Quote from @Remington Lyman: Quote from @James Wise: Quote from @Remington Lyman: Quote from @James Wise: Quote from @Remington Lyman: Quote from @Jacklyn Robins: Bought a great 4 unit property in Cincinnati — cash cow when full, (had) solid tenants, great numbers.

Tack on the PM fees and your professionaly managed property is at a big disadvantage price wise.

Also can a project manager fill out a scope of work and I just sign off on it would that be wise since they would know better?

It is clear to me that counting on rental /cash flow is not wise at all, .  

In my neighborhood I’ve seen plenty of similar setups on the market, but curious what’s realistic risk-wise in practice.Appreciate any insight from others who’ve done this in Tampa or similar markets.

"If" rental rates dropped in the area that the wise thing to do it lower the rent.

If they are not wanting to take the risk, either the deal isn't all that great (numbers-wise) or because it's rural, DOM are high, or they simply don't see what you see (ARV, capacity for exit, ability to see the deal through to the end).

It's also wise to at least notify your carrier but clarify you are not opening a claim at this time There's usually notice requirements, and you at least want to keep the door open. 

NC laws are very strict accounting wise so I'd suggest making sure you have a good handle on that.

Investing wisely is one of the key points in there, with consistent earnings made over time.