In order to align your goal with theirs you SHOULD pay them a percentage of all revenue - rent, late fees, water charges, parking fees, pet fees, etc.Second, the PM isn't taking anything, they are earning it by doing the things that the owner cannot or does not want to do.Third, I don't know of many PM's out there that actually want higher expenses for the owner.

Rahul,Have you had a chance to look at Condo's in Lincoln Park, River North or South Loop.

You buy at a small price thinking high cash flow yield but then do not factor to renew tenant will likely want new roof, parking lot, etc. at hundreds of thousands of cost.

Average rent was $1,981. 180205 (Cole, Whittier neighborhoods) - Rents increased 38.50% from 2011 to 2020, going from 13,499 renters in 2011 to 18,691 renters in 2020. 280247 (Windsor neighborhood) - Rents increased 31.80% from 2011 to 2020, going from 15,551 renters in 2011 to 20,493 renters in 2020. 280222 (Denver, Cherry Hills Village) - Rents increased 47% from 2011 to 2020, going from 8,446 renters in 2011 to 12,416 renters in 2020. 280202 (Downtown, Union Station area) - Rents increased 81.30% from 2011 to 2020, the fastest growing among the zip codes mentioned, going from 6,185 renters in 2011 to 11,214 renters in 2020. 280206 (Cherry Creek, Cheesman Park, Congress Park) - Rents increased 1.4% year-over-year as of 2019, with average rent of $2,454, the most expensive in Denver. 1For the Denver metro area overall, rents increased 0.2% from January to February 2024, a similar growth rate compared to the same period in 2023.

I'd just make clear private entrances, parking spaces, separate patios, etc. 

@Frank Rolfe's Mobile Home Park Bootcamp is the gold standard!

Many think of midwest as cashflow but there are gentrifying areas that see rapid appreciation such as Albany Park, Rogers Park, Avondale, Pilsen, etc.

Hi Will,MY partners and I work in Upper Darby, Drexel Hill, Ridley Park, and Springfield.

Talk about how good the schools are, how close to the beaches or other attractions, Size/type of kitchen, ease of maintenance of swimming pool if in place or jet powered swim lane, Covered parking if so, etc. 

Tanning Salon, small Chiro or Acupuncture shop, Insurance office, Lot of parking space and visibility.