Seller wants to provide everything caveat emptor “Purchaser beware”Purchaser wants as much assurances prior to closing, certain Seller reps and warranties will survive, but typically hard to enforce post-closingPossible solutions include escrow account for highly volatile circumstancesThe parties involved SellerSeller’s Agents i.e. managers, engineers, leasingPurchaserPurchaser’s Agents i.e. engineers, surveyors,Seller BrokerPurchaser’s BrokerSeller’s AttorneyPurchaser’s AttorneyTitle CompanyEscrow AgentLenderWho does whatSeller is responsible for approving the submitted documents from Purchaser in a reasonable timeframe, but typically not a contractual dutyPurchaser typically proposes LOI, PSA for initial term discussionBrokers are responsible for conveying information and negotiating their client’s position based on market comparablesAttorneys negotiate detailed terms within written agreementsIn some cases, can act as a party’s broker if a deal is unrepresented by a commercial brokerTitle company provides title insurance subject to listed exceptionsCan also act as escrow agent to hold Earnest Money and Purchase MoneyIn the event of a dispute, title is often very neutral and requires both parties to sign a release consenting to liquidated damagesLender will engage in some due diligence on the value of the assetMay require changes to loan terms based on documents discovered during escrow period

Now I'm in scale mode and harvest my equity now to MF. 

While I do like the turn-key model, I have managed to find a reasonable supply of properties in some of the local-ish markets you are looking at with a little bit better cash flow numbers. 

He mentioned a concept that wealth is determined by how long you can survive if you stopped working, not by net worth.

In asking around, I've found many Realtor/Investors operate on JV agreements on each property rather than putting together partnership agreements that survive beyond one property. 

If they did lose their job, could they survive longer paying 5K a month or 2K? 

I see two modes of "defense" in buying LTRs - cash flow and equity. 

This hybrid investor agent model is extremely valuable in my opinion.

The reason I like the model is that you are in A and B areas which actually have market appreciation.

Since it's a construction, it may be worth looking into a cost segregation study to better utilize accelerated modes of depreciation.