However, you can't sell something unstable, with circular references, requiring human override, etc.But, if you stabilized it, the model loses efficiency. 

- You or the PMC can get 3 bids, but who is going to know how to accurately compare them and understand if something is missing - that will require more work+charges once the project has started (a standard tactic by many contractors!)?

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

The 8 unit has required more time and energy because it had been poorly managed for years.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

It is pretty easy to keep it fully occupied but it does mean I turn away a ton of people who want a lease that doesn't quite fit my requirements. 

And, as I'm sure you know, both investors would require a 3rd party verification of assets to prove their accredited status.Let me know if this is what are asking or not.

Success in real estate requires courage, perseverance, and the willingness to take calculated risks.Internalize these principles and apply them in your real estate endeavors, and you will be on your path to success.

You're going to have to scrap like crazy to break even - think rent by the room, short term, mid term strategies that require more work.

Requires some pre-planning if the ceiling height exists.