We are not currently offering PM services to other land lords in the market, but I think that the market is ripe to disrupt this space as there are very few seasoned operators that are set up for out of state investor's to actually hit pro forma rents and expenses.

The main things that you need to keep in mind are seasoning and status of the home.

With an inspection, if it was something that was known to the seller, they may have priced the home accordingly (eg older roof, price lowered to cover cost of new roof). 

It's an older home, and it's currently set up as a rental, which I think is part of the reason it's not selling.

@Geoff Delgrosso I’ve been in contact with another gentleman that loaned him money as well.

I personally don't like using a % of rents of maintenance cost, realistically speaking an older unit with lower rents will have higher maintenance cost than a newer/nicer unit with higher rents. 

I know that there is seasonality in any market.

I'm looking to get started in both areas , purchasing multi family properties. Would like to pick your brains and see what kind of advise I could get , anything and everything would be appreciated. Also what would be ...

They did not want this law to in effect make it open season on adding unpermitted units.What happens after the 5 years?  

Rent being $300 more than PITI is not cash flow of $300/month.And the $2400/month cash flow is probably a short term rental that started in peak season.