Day care, restaurants, local businesses will all be affected.

All that matters is whether the property will attract reliable tenants (A reliable tenant stays many years, pays the rent on schedule, and takes good care of the property).

Indirect Expenses✅ Direct Expenses (Easy to Bill Back): Utilities, repairs, maintenance, vendor services (pest control, lawn care, etc.).✅ Indirect Expenses (Office Overhead, Admin, & Labor): Harder to allocate, but common methods include:2) Common Billing Methods🔹 % of Gross Rents – Many PMs charge 3-5% for admin overhead.🔹 Per-Unit Fee – Flat $10-$20 per unit/month for shared costs.🔹 Time Tracking – Track staff hours and bill properties proportionally.🔹 Software Tools – AppFolio, Buildium, Rent Manager allow bulk allocations.3) Best Practices✔ Use a Spreadsheet or Software – Track expenses by property before invoicing owners.✔ Be Transparent – Define billable vs. included costs in your PM agreement.✔ Avoid Surprises – Owners expect clarity on additional charges.

I've learned a ton about syndications, partnerships, funding for construction, the development process and so much more about managing consultants than I will ever care to admit. 

Sure, its useful but they don't care about your value, 

@Ryan Raven most states don't care if you screw up the management of real estate you own personally.The government does have a problem with an unlicensed person/company screwing up the management of properties they do not own.

Cleveland and Dayton can be great markets for high cash flow and low purchase prices, but you need to be careful when navigating the neighborhoods so you're not buying in a D/F class area where no property managers will manage and where you'll never see any positive cash flow.

@Mike Burkett @Chris C.Hi,I should have read the post more carefully.

Trustor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent.Now the practical answer is no one is coming to check on the property most likely, and unless you default no one will likely care.

That could be a good opportunity, but underwriting of a seller-financed fix-and-flip deal requires careful analysis.