In CA currently only MF properties are rent controlled.  

Some sponsors are mitigating this risk by raising their own pref tranches from their own investor base, thereby giving them control over the terms.In a strong up market it’s likely that rent growth and strong demand will drive up income, thus driving up value, which supports the ability to take out the pref.  

If you really don't value your agent's ability and think you can do it better, it's likely best that you 1) interview more to find one that you do trust, 2) go through the listing agent, directly, if you're that comfortable with handling your side on your own, or 3) maybe get your license so you can control your side of negotiations with the proper tools needed (MLS access with agent info, showings, contracts, tax records, uploaded listing docs like surveys, disclosures, broker assistance for questions, etc.).

This is a common issue, but having stricter cost control measures or a contingency buffer in place could help on future projects.

There are clearly downsides - the investments are even less liquid than active real estate, they are completely out of your control and they are long term in nature.  

Many people tend to think that the Federal Funds rate controls interest rates. 

Two codes of specialized paint for order control, not the regular Home Depot paint, were necessary.

Nice area of the city but the buyer will likely be inheriting rent controlled tenants.

Ultimately YOU need to be the one in control so YOU need to understand what's going on more and you need your agent to assist you with that.

Maybe as a construction manager, warranty guy, quality control or something.