@George BrutonThink this situation is a bit tricky and off the books since he's a friend of a friend who wants to build trust and get me involved in the business. 

I'm looking forward to getting involved and plan on attending BP meet ups in our area and possibly our local REIA meetings as well.  

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If your cash to close is $22k and this $50k is all you have, your loan will be denied due to "insufficient funds to close." 

I just don't want to get involved in the game of supplicating to the tenant by offering to excuse the rent for the key.

Warranty companiesThey offer a certain convenience but They can be a headacheThey can have terrible customer service/communicationThey can hire cheap helpAnd they will deny certain claims or just do temporary fixesSo why do people have them?

There used to be a President there, and he was signing on clients with the promise of being "personally involved in the complete transition".

Please correct me if I’m wrong, so the idea is to gain experience and knowledge from this paid walk with GC so we get the ballpark numbers and make offers in future without having to involve a GC anymore in the analysis.At what point in the process do you officially have your GC involved?

NNN typically offer the least amount of involvement to manage on a day to day basis. 

I always deny, and somehow, the buyer always seems to pull it together in time.