It is our job to manage the risk at the inception of the project.Thanks for the info and comments.Alan.Good info.I don't mean for you to talk out of class, but Pace Morby says in one of his recent videos that he is doing "table top" closings (closing outside of escrow)  "because he knows what he is doing". 

We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).

Been with a handful of property managers during that time.

The state will get its pound of flesh and my liabilities were better managed by executing perfect permitted work and excellent insurance.I'd sincerely recommend having a savvy CPA, Lawyer & Insurance broker.

I started my career with the renovations team renovating the houses we buy, and with the property management company working with our residents and our maintenance teams.

I do construction management for investors and I usually find them good contractors at good prices. 

I have a few rentals with section 8, and they are professionally managed.

What percentage of gross revenue does an owner typically keep if they do employ a property manager?

Any insights on financing, managing renovations, or rental demand in Detroit would be greatly appreciated! 

Consider starting with house hacking to reduce housing costs while learning property management, or explore mid-term and short-term rentals for steady or higher income.