This has the added advantage of providing supporting documentation of your administration of the Fair Housing laws.

If a loan was sold to FNMA or FHLMC the servicer is still involved int he liquidation of the property - once again not financially, just administratively.

That alone is 30% and you still need to add insurance, taxes, utilities not paid by tenant, professional fees (accountant, attorney, etc), advertising and administrative costs.

My background was in the Automotive Industry, working for a very large company in the administration part of the business....I decided that I needed something more than just a 8 to 5 job and looked into the Real Estate Industry......I've been doing this business for the last 15 years and found a very nice side to this Industry...As an International property locator....

I hope your administration team does not have too much trouble with the glitches my friend, and here is to the new version of Biggerpockets!

From an experience point of view, I had 2 internships in college (merly lynch and smith barney) and shortly after graduating I joined a company out of the East Coast as a project administrator, and 6 months ago I began my position as the Director of Business Development for Capital Consulting Company.

Call after you have it and before you do any rehab and see if they are interested, schools will have an administrator of school property, talk to them.Do it before a rehab, they may just tear it down anyway.Otherwise, they may have an approved housing list, get on that after the rehab, they will likely inspect it.

I am 24 yrs old from Knoxville,TN and graduated a couple years ago with a Bachelors of Science in Business Administration.

Most large commercial real estate companies have entire divisions dedicated to real estate services for large clients -- portfolio administration, transactions, facilities management, etc.

However, the administrative cost to individuals could be prohibitive if say the fund/partnership invests in multiple states and puts the onus on its partners to take responsibility for deciding whether they want to file in all the states notwithstanding the obligation to do so.