The problem is not everyone is willing to step up or hire a guy to handle it.

Also, If you are hiring out most of the work you may be just as well off selling "as is" to someone who routinely flips and can do it cheaply.

@Miguel Horta I would have the lender hire another appraisal.

Basically your friend can get a guaranteed return by lending you the money for purchase and rehab at a fixed percentage (say somewhere between 6-10% - I’d be willing to pay a higher rate to a friend that makes my life easier in not having to fill out massive amounts of paperwork, hiring appraiser, having credit pulled, etc).

Hire one contractor and have him keep an eye on the others. 

On a good month, the PMC makes a profit off their charge to you, on a bad month they lose money.So, tell us where they have the time to hire, screen and followup with vendors?

I don't think many people are doing "internships" but I'm sure because of the crazy hot market, and COVID that plenty of property management companies are hiring right now!

I literally implement based on that.I manage the properties but hire "tool belt" level repairs.I have been onsite for projects in order to provide guidance to the workers and answer questions about how I'd like the repair done.I have held the stupid end of a tape measure.I have held the end of a board, but not used the power tools.This interpretation was reinforced by a (former?)

Check your local laws...Hire a good moderately expensive contractor with good references.

If time is more important to you, go with a traditional LTR and hire a property manager.