The third and fourth fixed and same as the second. 

If they are passive and they are profiting based on performance, then you are dealing with securities and should set it up as a syndication, for both legal and tax purposes.

Are you paid out a certain amount based on the capital provided to the 'flipper'.Are you paid a fixed fee per flip that he does regardless of how well the flip performs?

A lot of cities have some organizations to help local people find place to live.Reach out to local churches/hospital/performing center/university if there are any there.

Your situation revolves around the importance of hiring a property manager or third party to take care of issues such as the one you are facing now.

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

I'm looking at several multifamily properties and I'm unclear on performing a cap rate calculation. 

Aloha BP community!
I’m curious to hear everyone’s mindset regarding obtaining insurance for your fix and flip LLC and coverage levels.
I’m on Oahu and planning on handling some of the rehab work myself while contr...

I think you could do better in your market (Raleigh) with a residential MF (duplex to quad) because it would have similar appreciation, have better cash flow, you would still be able to leverage all of the advantages of you being local (self manage if desired, able to know the market, be able to perform heroics if necessary).As for cash flow, I consistently argue that I value it less than value add and appreciation and this is why: Value add and appreciation allow me to extract my investment to leverage it quicker than cash flow would allow. 

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.