The other issue we have going on when you compare us trying to build and the big boys, they build cheaper and faster and get better pricing.. the only way my project works is I am doing semi custom working with the buyers at a level the big builders simply wont do  its a hybrid and consequently we are getting 50 to 200k more per house sq ft being the same but it cost us more to build and takes us longer..

For a conventional mortgage, at closing, the lender wants you to maintain a homeowner's policy and so I'm trying to understand the consequences of changing the policy post closing. 

Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time. 

The best sponsors build their reputations and investor base on long-term performance and trust.

I have an investor savvy real estate agent, a contractor with references and a good reputation, a number-crunching account as a husband.

Here is a question, would the radio show hosts bet their reputation on someone that was completely out to lunch?

The biggest drawback I am having is calculating cost for repairs & finding a reputable contractor for a fair price - I know nothing about renovations right now.  

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Trying to keep an existing tenant often produces more trouble than it's worth.To answer your original question, you should absolutely give them a deadline and a consequence.

I was wondering if anyone could provide a recommendation for a reputable property management company in Northern NJ that handles small multifamily?