Buying my first property

[Nirbhay Mehta]

Hello Everyone,

I'm planning to buy a condo in Michigan and was hoping if I can partner with someone who's local or if not partner can handle the property management part of it. If you've worked in past with any property management company or have any idea that also can be helpful. The reason I want Property management is that I stay in a different state.

Questions

(1) How much generally do property management companies charge? I spoke with multiple companies and from what I understand its generally divided into two categories

(a) Posting Ads and Tenant Screening

(b) Rental Collection and Maintenance

So for each part how much should I be paying?
Also, if you've any other suggestions, like posting ads and tenant screening can be done on your own and for maintenance, you can hire someone those kinds of suggestions are also helpful.

(2) Also, are you aware about good CPA who would know about real estate and also about VISA?

(3) Let me know your thoughts about this property. If its good deal or can get better one

About Property

1Bedroom Apartment - 897sq.ft

90K price

20% Down

Loan Amount - 72K

Annual Mortgage - 9096

Annual Rent - 12000

+ve cash flow - 2904

ROI% = 2904/18k = 16.13%

Note: This ROI% will change once Property Management charges will come.

Best,

NM