, not so much for the profit we are making, for all of the expenses involve that surpass our profit.

Your best bet at this point is to get together with an architect and see what your options are.

Unless you come from a corporate job that is involved in this field, it is not a place I recommend to start.

This is because losses in a Partnership LLC are generally considered passive or non-passive depending on your involvement, and the structure of the LLC can provide more flexibility in how losses are handled."

They're usually well meaning, but when they get involved with the leasing process, a repair issue, a neighbor complaint, etc,  it always escalates the issue.

I’m planning to take my broker’s exam in the near future to expand my skill set and deepen my involvement in this space.I’d be thrilled to discuss the current state of the market, challenges, and opportunities, and to exchange ideas with others.

Quote from @Herrison Sitorus: Hi all,Recently got involved managing a rent stabilized property.

This quotes is only to remediate the mold it does not involve fixing the drywall afterwards.We are trying to get more quotes but unfortunately we live in Stillwater, Ok ( a small town) so most of the professionals have to travel about an hr. to get to us.Attached is the $11K quote – it seems inflated to me.

No agent involved.

Time Savings: Managing properties can be time-consuming, involving tasks like tenant screening, maintenance coordination, and rent collection.