I work full time as a Operations Manager and a semester away from college graduation, so I'm pretty busy and from what I read investing in real estate becomes a full-time job.Any advise would help, should I search for "multi-families" or "flips"?  

I'd be happy to discuss with you about my fund anytime, though I will say that we typically don't invest in one-off deals, but rather whole operating companies that have reached critical mass.  

Any advice on the following would be a huge help: - Fee Structure (Residential structure is 1 month rent for leasing, 8% management and $300 renewal - Operational items that may be different from residential.- Legal, risk management issues that may be different from residential.Thanks in advance for your help!!!

I chose Birmingham primarily through the turnkey operator I use.  

Is your business Operating as you want it to be ?

I'd try to contact some trade services that do large construction projects, but are more of a ma and pa based operation.

My goal is to move to Cincinnati in the spring of next year, where I'll be operating a small contracting company with a partner.  

San FranciscoI spoke with several brokers in the SF market and got the impression that SF operates differently than the rest of the Valley.

My understanding is that multi-family real estate with up to and including 4 units is valued the same way Single Family Residences are, using comparable properties in the neighborhood.For multifamily apartments with 5 units or more, use this formula: Income - expenses = Net Operating Income (NOI). 

You may want to speak with the condo association and find out if the tenants are behind on their HOA dues and if the units are operating at a profit.