A property manager would charge 7% to 10% a month, plus I am assuming a mark up on any maintenance issues that they coordinate. 

You can either go the route he suggested by hiring a VA or you can look for a local admin or assistant that can do things such as answer the phone, compile a list of preferred contractors, and coordinate tenant service requests.

We do not represent them.And I can tell you, in almost every case we have an unrepresented buyer on my listing....I make more, the seller makes more....and the buyer is probably paying more than they would need to, and waiving things, or agreeing to contract terms that they have zero idea what they mean or is customary.As an example, almost every unrepresented buyer on my listings ends up paying 100% of the transfer and recordation taxes, when customarily those are split 50%/50% between buyer and seller.

@Keith CuddebackIn addition to the methods already mentioned for finding the outstanding loan balance of the primary mortgage, you'll also likely want to determine if there are any other loans/liens attached to the property that the seller will need to cover/pay off before they could transfer title to you.

Management fees- free rent in exchange for licensed agent living in the community and coordinating work orders, etc. $288,000 income - $199,600 expenses without management and landscaping = $88,400 / year or $7,366/month. 

HOWEVER if you are Trying to ACQUIRE the property and the borrower on the Note is now deceased - the ONE Big question (among others) is How do you get marketable and insurable TITLE Transferred over to you SUBJECT 2 that existing debt?

Furthermore the local experts can confirm the following: (1) the use is allowed, (2) the use requirements can be protected by permitting and licensing and (3) the permissions are transferable through a sale.

Appraisal transfers are pretty easy with the program I've got in mind.

(aside it's not fraud or misrepresentation when the transfer was made)

Since your Boston condo is in an LLC, transferring the title to your personal name to satisfy the lender could potentially trigger tax issues or disqualify the exchange.