Now we are in the realm of low-return value-add under the auspices that these marginal projects are acceptable due to this false perception of no- risk.

Subdivision HOAs often have pretty low annual dues, but can still be quite severe in compliance.Condo HOAs can also be SFR, attached townhomes, or the more common perception of vertical apartment boxes.

What is good about a corporate Guarantee is name recognition/PERCEPTION,  decent financing, and higher value if you are a seller.  

A deal is a deal based on the market at the time, not some perception of a future market and its conditions (again within reason).

Firstly, I commend you for having this perception at this point in your journey.I would state that at your working age you have considerably more longevity and runway and time for compounding returns. 

The perception and judgmental impacts are too high.

The perception as some World of Warcraft brokerage is hilarious.

How do jobs, and wages, and corporate perception playing a role?

My point was, it appears, based on anecdotal evidence (which is the same evidence you provided), that the PM industry, has at a minimum, a perception problem. 

The promise of big monthly checks and tax write offs were like the songs of the Sirens luring  me from the safety of my ship into the deadly shoals.