I have considered retiring from the w2 job and may after I complete my current task.   

It depends on your interest and the level of involvement you want to have and the time it will take you to learn.1.

@Ilidio Cardoso - I think you missed the point here in my question.There is no bank involved here...We are the bank as we own the note.

My recommendation for STRs is to hire out the tasks. 

We are also interested getting involved in wholesaling out in the Inland Empire so I am still doing my homework.

I’d like to learn it too, even if and when we delegate that task.

@Alexander Vasquez I dealt with this earlier in my career and I just made sure I was the most prepared I could be from a knowledge and market perspective when talking to more seasoned investors or just in general when I spoke to older people who were involved in real estate.  

Purchase price: $450,000 Cash invested: $1,500,000 This project involved renovating an old commercial building in Oakland into five live/work condominiums.

Considering there are many safe construction loans out there, do you really want to get involved with this?

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