For instance, if I manage to raise private capital to fund a deal and purchase a successful rental property, how would this actually benefit ME when I have no skin in the game (i.e. money of my own invested)?

Accounting packages such as QBO and others specific to property management are good, but they can also be like killing a housefly with a sledgehammer.

Why not go get a college degree in construction management for that price….

In the long term there is LESS unknowns in the new construction, but the entitlement and aquisition is a bit more tricky.Just curious how come you had to fix water heaters and leaks if you have a property management business or in it?

Pros:- Everything is all in one place- Easier to manage, less hassle (likely)- More predictable - Easier paperwork Cons: - Less liquid (have to sell all or none) - All eggs in one basket Just off the cuff, those are my initial thoughts. 

A property manager has told me I can get 8-12k a month for my in law apartment so that sounds pretty good to me and I can build funds.

Hi BP Friends,Does anyone have any recommendations for short term rental property management in Mariposa, California?

Engineer, accountant, teacher, management and attorney are the careers most likely to produce millionaires. 

If you would like to see the guidelines for IRS auditors regarding Cost Seg, you can find them starting on Page 24 of this document https://www.irs.gov/pub/irs-pdf/p5653.pdfI would be very surprised if you could claim unpaid labor in your Cost Seg. 

Work with local real estate agents and managers for valuable insights and support.Good luck!