@Benjamin Haberman, coincidentally, a PM will cost about the same as if you kept giving one of ten tenants free rent in order to perform all the required duties.

I absolutely second the notion that being a good and honest person is vital to success.

The industry is so ripe for discussion with all of its: negative stigma, tenants/toilets/trash, fee-drivenness, landlord friendly, investor driven, technologically evolving and legislatively active...environment.There's the historic landlord and agent PM legal agency relationship with a traditional scope of service, duties/responsibilities between LL&T, evolving retail/consumer trends/expectations, etc.

I'm not sure I want to keep wasting my time providing beautiful housing and excellent service to tenants who don't give a sh*t, spending each and every weekend crawling around in attics and crawlspaces of rentals with no time to even do my own laundry, or testifying at city council meetings--literally getting personally insulted by council members in the process--after waiting 6 hours a pop just to do my civic duty.  

I also get tired of having to explain that by "making a relationship" with you, I expose myself to litigation if I ever have to sue a borrower for a deficiency from a foreclosure and oh, let's not even mention the part about how I have to explain to my state and federal regulators, or my shareholders that I failed in my duties to maximize recovery and minimize risk of loss by selling directly to some invidivual investor instead of exposing the property to the open market....you keep digging.

If close enough, I would go with my friend.I wouldn't be worried about a conflict, regardless of which way you go whoever closes this deal will owe duties to you and your lender.

Ultimately, we're seeking to acquire long term buy/hold cash flowing multifamily properties (2-12 units... at least to begin) starting in the Milwaukee/Madison, WI area, but we'd be buying from an out-of-state position, since I'm currently stationed out in Maryland on active duty.  

In my 10 year multifamily career, I've performed the duties of leasing specialist on a 500 unit community, assistant manager on 400 and 550 unit communities, and community manager of 250 and 200 unit communities.

I am currently in the Air Force active duty with a family, looking to invest in the Valdosta GA area.

Matthews) to rent my house out once I receive orders to a new duty station but after listening and reading I don’t think it’s great for cash flow or to break even.