I've worked in most phases of residential construction, but have not yet managed  a project this large.  

Until then, I'll be trying to absorb everything I can to fine tune my approach and prepare for managing REI business post-acquisition.

Coldwell Banker Commercial Fisher Group, Fisher Management Company.

. $215k is the offer that is falling through.It's not something we could self manage.

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

And at the top, you need three key people: an artist (to deliver a great product), a manager (to keep things running smoothly), and an entrepreneur (to drive it forward).

Reqauest a refund from them verbally and in writing and  continue to follow up and  go up the  management  chain if needed . 

Wholesaler that I managed his airbnb.

“it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.”excellent point 

Try interviewing at least three managers.1.