You would sell the house you're in and upon that sale the mortgage gets paid off and you are left with whatever excess cash there is (probably tax free from your primary residence sale) and now renting your mom's new rental property. 

There is some good information here, but as others have stated, it looks like your cash flow or lack of is due more to your investment set up, than to your PM.As a Property Manager myself, a few points:It sounded like you are experiencing excess turn over through tenants breaking the lease early - there is a way to handle that.

Due to restrictive covenants placed by lenders on other parcels, he’s unable to pay interest in excess of 9.99%We purchased the said parcel (valued at $4.6million for $2.5million, with the seller having a 7 month option to repurchase the tract for $2.975 million.

Some lenders have "float downs," but typically these are lenders with high "starting" rates to begin with, they're just cutting into excess profit they normally collect, it's not actually a float down even though it appears that your pricing gets better.So if you're getting a good rate, expect not to be able to float it down.

Meanwhile, because hot air is full of moisture, all that water hanging out in your attic is causing condensation to build up.

I find the additional protection excessive if you own, let's say 5 duplexes all with liability insurance policies on them.

Excessive candle burning.....

Only Tier 3 requires annual inspections because it "requires excessive city services, poorly maintained or managed, may be at a higher risk for fire damage". 

Anything excessive could backfire on you and it's what causes tenants to fight you in court rather than move on. 

I understand this amount isn't excessive, but I feel like I need to take action so that I can understand the process better when this occurs again.I provided the tenant with a move-out letter and inspection report on August 2.