I understand that you want to factor in PM as a potential exit strategy compared to self managing.2) Am I over thinking this?

Over a 5 year period I would have 5-10 syndication investments that are in various progress stages(i.e. construction/initial value add, re-finance, stabilization, exit) so a passive loss on one K-1 could offset a gain on another K-1 gain/exit.

Also, make sure to research any short-term regulations in the markets you are thinking about, and think about what your exit strategy might be if that happens.Mike

I work with many investors, some of which are stringent in their buying criteria (area, exit strategy, etc.).

Its a money draining exercise to you need to be very clear about what you want to do and how long to exit.

My exit strategy is death...

what type of enter strategies and exit strategies do you know of for any virtual wholesale deal?

I already had several properties in the area and knew its rent potential as a possible exit strategy.

@Patrick Schoeben be careful, you are falling into the trap of not understanding your exit strategy. 

(personal opinion).Just think about one simple logic someone is paying for your property.You can buy new single family and exit once they are finished with that community and you will still make some margin if you select the right location.i have seen that in Missouri City and Sugarland area.Buy newer homes so you don't have to worry much about repairs and btw repairs are cheaper than some other markets if you get the right people.