If you are looking to buy in PA, its possible you can qualify for PHA KFIT program that gives you a 5% closing cost forgivable loan.

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

The current status of the market is low end rentals land lords that let the houses look like crap. 

Do you believe it will now be more cost effective to hold a license or do you believe the expenses will go up with what I assume will be a flight from the business by low producing real estate agents? 

You can usually get a lender to go 85% of cost or 70% of the As Completed Value for such a project.

Yes, there's a shortage of low-cost housing in West Palm Beach and Malibu and Portland Oregon and Asheville NC and other places people want to live.

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

Yearly increasing costs will, in time, eat up any profit they have per unit.

However, due to high property costs in our local market, we have been exploring opportunities in more affordable states, including Texas, Pennsylvania, Michigan, and Ohio.

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).