That is several thousand in rent gained right there and they is not even counting the cost you would incur with each turnover.

He is a family friend and we have even looked at some off market for sale by seller too that I identified stuff where he wouldn’t even earn a commission and he was happy to investigate for me - more of a looking out for me / family than counting a check (I am not looking for expensive real estate and he has owns the brokerage of 20+ agents, unfortunately my purchase isn’t much of a profit opportunity for the office but would probably be more embarrassing on him if we get something wrong  😂) Noted on the inspection though and I will stipulate it is a deal breaker on my side.

I didn't know about conventional not counting boarder income for non-serviced properties.

So you don't want to count on it at all for the short term.

Unit count in the low 300s. 

Most employers now direct-deposit, so you can also cross-verify the legitimacy of paystubs (are their payroll deposits equal to paystub income?).

Last month she paid the rent seven days late and this month she is ten days late and counting.

They may be family/friends but it is still business and having your t's crossed and i's dotted will save you trouble down the road. 

However, if this total income number is negative it will count against you like any other liability would (think car loan or other mortgages with no rental income or credit card min monthly payments/etc) against your DTI.DTI is typically maxed out around 45-50%, so half of your monthly figure so if you make 10,000 gross per month your max liability at @50% DTI is 5000 a month max payment.

@Ankush R.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.