Hello, I’m searching for a property manager for my three family, gut-renovated, vacant property in Bedford Stuyvesant Brooklyn .

I appreciate the suggestions, and I’ve decided that taking on all three properties might be a bit too risky.

Red flags have been the opposites of the three items listed above!

If I am buying a property within three months of getting the home equity line of credit, will my lender consider the money seasoned enough that I could invest it?

@Kent KettellWe have been using loan to cost funding our deals the past three years, with community and credit unions, and the refinancing once stable to agency.we are able to get 80% of the rehab built into the loan, and it has allowed us to come up with less.

House has been rented to three tenants now and they’re the first I’ve had any issues with.

You can exit your hard money loan to conventional with lower rates + assuming you have the sufficient income to qualify.

Back in the day we carried a balance of $100,000+ that was owed to us and that is now down to only $10,000 or so and we only cover out of pocket if it's an emergency.The PM must have sufficient reserves to do the necessary maintenance work and shouldn't be chasing landlords for money.Just my opinion...Also, a PM's number 1 profit center is maintenance up charge.Landlords don't have much insight and PM's nickel and dime to death on those.If you are suspicious, ask for a receipt so they aren't making up non existent maintenance.Let them make their money tho and calculate that into your expense pro-forma.Otherwise, manage yourself and deal with the $#%^@ that comes with it lol.Multifamily in Ohio, you can get for $25,000 - $35,000 a unit.Drop another $5,000 - $10,000 into the turns and rents should be North of $800pm.Decent area's also.Personally, I wouldn't get out of bed unless I'm making the above numbers.Wishing you much success

Here're the three most important gotchas:          1.

Together with the other two, the value of the three will be ~$2.3M.