The Compensation Mechanic is Completely DifferentA Flat Fee MLS listing gives sellers the ability to display a binding offer of commission to buyer agents on the MLS.

Then there is vetting the tenants, co-broker compensation, finding contractors, zoning issues, tenant mix, permits, etc. 

The IRS disallowed the 1031 Exchange, but the court upheld it saying that the 20% discount was fair as compensation for property management services.  

For example, if your house had storm damages and was unrentable, would you receive compensation for lost income based on your STR history or on long term rental rates?

He is looking much more at the long term benefits of loan paydown and appreciation.In regards to having to us the loses in a 'deferred' manner he thinks of it this way; "It is like deferred compensation".

And the risk is still there (compensated for only by potential appreciation). 

A local realtor should be able to, especially if you compensate them for their time.

Funds that can't make those promises (like a syndication deal or private equity fund instead of a note fund) should offer premium returns to compensate for the lack of liquidity. 

I welcome pets in my rental but like to be compensated for the wear and tear.How do you handle this situation?

Time and effort will be compensated should this amount to a deal.