It's not all that bad I guess but that's just about the same I would get in dividends by putting $20k into Fundrise or other of these syndication (Groundfloor is my preferred place at this point).Got to think about how tax, depreciation, etc. play into this but as a first pass, not sure what to think about the added headache that may come with remotely investing in SFH.

Then, don't second-guess them.

I guess a cashout I'd still be buyer though?

I guess it really depends on what he wants from you, and how often you would step foot on the property.

I'm not saying I don't think you can't achieve those rents, because it obviously depends on the finishes, but I would just recommend focusing on the big picture stuff on a deal before nit picking every maintenance details because honestly it's an educated guess either way.

It seems backwards to me, but those facebook ads and late night infomercials of people sitting on the beach sipping cocktails while their bank account explodes are very tempting I guess... 

I guess every business owner who wants to scale up and grow will encounter that "pivotal moment".  

I guess if the numbers work on flow, who cares.

For your "what do I wear question", I guess I hadn't thought much about that.

In that case, there's no point in waiting 6 months for a cash-out refi because it'll have the same effect as a rate and term refi (i.e. you won't be able to get cash out).I guess you're right if he isn't getting a good deal up front.