This whole process just made me feel like I was being sent down someone's marketing funnel and that his initial pitch video detailing his struggles, angst and pain points was just a carefully crafted story line as a lead in to his "products".

@Julian Drew in addition to the great info the others posted, your model for crafting a multi-residential out of the structure is pretty common for the AirBNB folks.  

Additionally, showing that you have refined your process over the course of deals to increase yield goes a long way to demonstrate that you care about becoming better at your craft. 

Take the time to really learn the craft of development and you will be fine.

Craft beer and coffee everywhere.

In general lawyers think about the world in terms of risk and how to design it out and not about how to craft something that will sell net of carving out the main risks.  

I’m a musician and fashion designer- I want the residual income to focus on my crafts.

And Generations were brainwashed into this blind trust, as traders honed there craft on how to maximize what they do, TRADING, to profit as maximally as possible, on this ignorant-$. 

But that is not what happens here they think they are going to get rich by following the teachings but then reality sets in they are not cut out for the business and no one is going to hand it to them... these same people can get a free education and will never do anything either because RE is REALLY HARD  its not easy its not instant money it takes years to proffect your craft..

People are slinging burgers at McDonalds for more than $4.50 per hour,,,Here in S Calif ,any legitimate contractor in any of the trades is breaking even at 175.00 to 200.00 per hour without a net profit of 8-10%That would bring us up to about $225 to 260.00 per hour in billing numbers,,,,Wanting to give you a bit of advice if you might accept it Mike,,,,I would go to several local established plumbing supply houses that sell to only licensed contractors and ask for a couple referals for some licensed plumbers maybe father and son teams who have good attitudes,have nice clean trucks ,are cordial and pay their supply house bills on time,,,you cant go wrong with these guys,these guys are serious and the run a legitimate above board business,,,These are the folks you want to invite to bid on your rehab projects.Hire them and guess what ,,if they like you and u have a "meeting of the minds" they are going to introduce and reccomend other tradesmen in different crafts of the same level of competence and reputation,,,,DD