For the question you actually asked -  Use AirDNA to find the top grossing properties in the market, see who is managing them and call those PM. 

There is also a Bank statement loan but that would require 10% down where they use gross deposits instead of income/taxes.  

He obviously had no idea, so he made up a number that was actually about 50% greater than what the ENTIRE real estate guru industry grosses annually.

The owner reports gross rents of $2750/month (this includes the home plus lot rent). 

Gross rents when he moves out will be over $8,000/month.

If you look at this as a regular business, its revenue is $82k, and its expenses are $41k, so the gross profit is $41k. 

Even in an area like Lynn (North Shore) the margin between gross monthly income and all expenses based on an $800k property would net us approx $-2500/mo.

ChangeRevenue. say 120 15 footers avg  $100 at 90% occupancy$130,000 gross revenueLand. 2 acres. $150,000Fence. $30,000Cantilever gate. $25,000Security system. $15,000Grading $15,000Road  rock. $25,000Asphalt ???

Unlevered IRR performance for SF in west coast high appreciation asset has gross yield of 18-25% IRR, post-recession maybe giving 8-12% IRR, is okay.

From my experience, most property managers charge the following:-6%-10% of the gross rents-Cost of turnover-Mark up on all repairs-Costs to renew leasesCould you self manage?