Property Management Valuation

[Dave Lynch]

I need some help.  I've got an opportunity to buy into my business partners established property management business.  I'm trying to figure out what an appropriate price is to buy into.  Since there are zero physical assets is it simply a valuation of cash flow for a certain amount of time or am I missing something?

My question is, how much value do you put on the business with zero assets over what period of time.  Thanks for any and all input