I suspect you can also hire a management company and rent it out as well.

I am giving my partners a much larger than 15% CoC return over time by leveraging the properties and repeating which is why I can do the 50/50 split and charge the acquisition fee and ongoing management.

Are you asking if the company is legitimate or if it's possible to double your money in 3-4 years in this area via multi-use?

I own a property management company in the Rio Grande Valley and can assist with any PM needs you might have.

I have reached out to credit unions, "quick" close FHA companies and I am waiting to hear back. 

He tells me they are the most reputable companies in the area, blah blah, to trust him, and I won’t find a better price anywhere (true, their google reviews are top notch and they are a relatively larger company, which I normally don’t like frankly price-wise.

I was researching Property Management Companies and thinking about buying into a franchise Property Management Company.

High cashflow, recession resistant like a plumping company or another core service company would be my suggestion  

So we refer clients to companies/experts that specialize in cost segregation: @Bernard Reisz, @Yonah Weiss or @Julio Gonzalez can all help you.

I would let the insurance company know that the property is a rental.