Quote from @Alan Mills: Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”This was a full interior/gut rehab and almost everything is brand new.

I find condos/townhomes to be easier to manage out of state because the HOA handles a lot of the maintenance, just be aware of condo fees and find a place that is reasonable like $300-400/mo or less if you are lucky.

(Or more likely that balance plus every late fee, penalty, escrow shortages, and anything else the lender can declare owed.)

Selling the rentals via installment sales could also spread out tax liability.This post does not create a CPA-Client relationship.

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M

My partner and I don't get a cut of any of the money invested, it's a flat-fee membership club.

There are sometimes fees associated as well but they seem minimal and scale well since one line of credit can purchase multiple assets.Interested if anyone else is using this lending strategy and what your experiences/recommendations are.

In the end, it would have made more sense to hire a couple handymen for a week or two than me spending 3 weeks installing flooring, base and case.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Install cameras around the parameter of the property today; post no trespass signs; change your for rent listing.