Personally I pay $300 commission to get the new tenant, 8% of rent collected, and $150 for renewals.

@Travis Timmons thank your for sharing these details in your personal experience.

Working in a busy property management company, I'm often asked for advice on camera and alarm systems, and in rougher neighborhoods sometimes it can be a toss-up on whether to keep a property boarded-up between showings. 

Neighborhoods there are usually in better shape (although Baltimore is very much block by block), and in my opinion, the quality of the tenant pool is much better.Oh, and great idea checking out the properties in person—the pictures you see on the MLS can be very deceptive lol.

Second- these developments where the same person develops, builds, and then requires you to use them for management- they always suck.

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It is great to see what your company is doing in the Milwaukee market!

MF properties are viewed as businesses, thus often priced as a multiple of annual income potential (like any other business, whether you're selling a donut shop or a tech company).

Look into a DSCR, Debt Service Coverage Ratio, loan where the rental income can be used to qualify the cash out refinance instead of your personal income.To Your Success! 

This is probably a place where you go to one of the personal loan sites to borrow money or maybe a credit union.