Here's the information: http://www.cslb.ca.gov/Consumers/Know_Risks_Of_Owner_-_Builder/What_An_Owner_-_Bulder_Is.aspx

And it was clear then their proforma numbers left out the 20K a year loss due to paying all the utilities. on an 8 unit building in Alaska...I'm finding the task of finding and dealing with MF investments to be unreasonably time consuming not to mention frustrating and extremely risky.

As a consumer....I typically look on VRBO when Im looking to rent things like lake houses.

You need to know that so that you know what you're dealing with.50k for EMD is outrageous in my view but if you insist on doing this make sure it goes into an escrow account at an escrow company and make sure it is refundable in an iron clad clause allowing you to back out if the deal goes sideways in court.

I am comfortable figuring it out as I go for investments involving only my money, but I want to get more of the details ironed out before taking on investors.

The problem often lies in uneducated consumers taking the Zestimate as gospel, which was never Zillow's intent.The Zestimate a very useful data point if you take the time to understand what it represents.

How do I remove this metal piece to use a pvc to cast iron donut to make the transition?

If, prior to full performance by the buyer and conveyance by deed, the seller is:adjudicated a bankrupt;dies, with title passing to heirs; oris adjudicated an incompetent;the buyer can expect time-consuming, frustrating, and expensive litigation beforeobtaining a deed and policy of title insurance.5.

Ironically they may complain they are living in "slum lord conditions" but don't seem to matter residing there as long as they can do it rent free.  

For that he removed all of the cast iron connected to the tub, toilet and sink and replaced with PVC.