Focus on the big moves: security, renovations, and cutting dead weight. 

He isn't rich enough to have a body guard and a security professional.

There are pros and cons but i believe for most properties the cons out weight the pros.  

Given the size of portfolio needed that presses a need for it to be mostly A class assets to mitigate operational weight, so it could push closer to $80m in acquisitions. 

Maybe they've been burned by landlords in the past and are being very careful.You can legally reject them based on personality, facial tattoos, body odor, or other factors, but you better make sure you can prove that it wasn't based on any protected class like race, religion, familial status, etc.

Brady,When I do my screening for new tenants I would weight the rental history the most.  

Not so much ;)So now investors are feeling the weight of dog properties…be it higher interest rates, non paying tenants, property values falling, government intervention (especially in CA), etc.

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

Other people might look at the proof I'm providing and realize that it holds more weight than what people "think" will happen, so I'm posting for anyone who might be into that.

If cash flow is what you are after, set up a coffee trailer, wash houses, sell digital assets, launch a Shopify store, set up ATMs, buy a title company, coin laundry, a party rental business a car body shop etc.. and then invest the cash flow in real estate!