I bet Auction.com will relist it later. 

Those are usually your best bet.

Now I’m curious though, is running credit and background on all partners, even if they aren’t bringing money to the deal a common practice with HMLs?

I have a general strategy question and I’d love to hear from those of you with way more experience than myself… I have a single-family rental I want to pull my equity out of… I had planned to 1031 into a better market...

Your best bet would be to network with other investors and ask them about their projects and budgets and go from there. 

It seems that this would open us up to potential legal issues if the management company were to use discriminatory tenant vetting practices, not following the proper process during an eviction, etc.I would expect that part of the reason to hire a management company is to have someone that is more familiar with these laws and to ensure that we are not in violation.

Ask as many questions as you can, talk to as many people as you can, start practicing running numbers (ARV, estimating rehab, max allowable offer).

It would make purchasing multifamily easier, but that barrier of entry is also used to encourage best practices for investors running their business.

I'm still geting a lay of the land in the LV area and looking to keep practicing.

Additionally, the team has real estate experience themselves that can help with best practices and different use cases.