They do have pest control companies that I use in one unit where the tenant just complains frequently - townhouse sharing a wall with another owner so I have no control of next-door unit -- so I now pay for quarterly service and as part of it, they come out and re-treat for free  any time tenant has issues between quarterly treatment, so the tenant calls them now, not me.  

I have systems for cleaning, staging, quarterly/annual maintenance, inventory checks through Properly. 

I'm going to be an agent, but I'm also moving all the pieces into place to purchase my first small multi family in the third or fourth quarter of this year. 

If you do not want to grow your holdings, keep enough in reserve for capex, maintenance, etc. and then give yourself distributions as you see fit (monthly, quarterly, yearly) to get your profit out of the business and into your pockets

Keep some liquid investments like stocks and bonds handy so when that day comes that the world falls off a cliff you don't lose your apartment complex.3 - Do not trust your property management company - there are good ones but you need to be their "overlord" so to speak - quarterly reviews of their numbers, regular meetings with them, etc.4 - Do not buy a complex based on magical projections of future rent increases - only buy it if it the numbers work as is.

A hundred years ago, most homesteads were quarter sections (160 acres) but frequently only a portion of that (perhaps 80 - 100 acres) was available for planting (the rest being consumed by ditches, sloughs, bluffs/shelter belts, farmyard and pasture).  

The living quarters of an accessory cottage dwelling (ACD) shall not exceed 40% of the living quarters of the principal structureor 1,200 square feet, whichever is less.

I decided to go with a personal letter and will continue sending them each quarter to let them know I'm still @Matthew Paul - thanks, I'm giving it a go.

You can provide quarterly interest payments, bi-annual, or whatever structure is most desirable for your investors.Use your first property (pictures and numbers help) to solidify your experience and knowledge.

If we walk through the apartments quarterly and notice or suspect things that aren’t right is there anything other then asking them to fix the problem or threatening eviction?