I chose to build my PM business from ground.To create a working system and to organize processes is difficult in the beginning, but to my experience it is possible to create a working model based on personal knowledges and then to provide a high level of service to the clients.

Or steps  Never recommeneded if I was the GC as what if the person does not sell the home or it sells for less than what they owe the bank and the GC? 

Just look at the property on google street view, you don't need to go in person, etc. 

If nothing is mentioned about it then I don't get them personally. 

A loaf of bread is $7.The last thing you want to do is lose a great cleaning person over $25.

@Jon DawesI personally prefer liquidity and flexibility and like you said so many variables which is why it's never clear-cut in personal finance.  

@Ahmad Aram It can be harder to purchase homes using an LLC as opposed to your personal name.

IRS liens follow the person so they might be willing to negotiate.

If I am going to hold and rent, 3 beds in our market get about $300 more per unit, and are desirable in there aren't enough of them.If you're gonna hold and refi, I would make it a 3 bed.I may be just looking at it from a multifamily perspective.Let me know what you end up doing.

Thus whatever deal the person is marketing better have some strong financials and considerable equity of their own in the deal.This is just the reality of todays market place