I'm not being critical, I'm really trying to understand this concept.

I’m seeking suggestions, advice, possible investors, mentors, critics and any other resources your community may provide.I have essentially built myself up in tangible assets over the past few years and would like to ultimately now transition into the boring side of finance.

Last minute fires, floods, etc (which is why it is critical to do another walkthrough the day before closing- not everyone does unfortunately).

Its important to make a distinction whether a property is a true "SFR" or has multiple units. 

Support during operations is also a critical function and you may end up with 2-3 lawyers in your toolbox!

I really liked having a new construction property for a short term rental since first impressions are critical.

This is critical because you are not profitable until you have recovered your cost.As far as incentives for a PML goes, they make their money on the interest...the total interest. 

That said (and as Andy has pointed out), the critical part of house flipping is acquisition.

This is critical to pull off a successful BRRRR. 

Know how to take constructive criticism.