You could buy about 80 of them, but your cash flow would still end up at 16k which is about what you are making now (actual it would be zero once you account for property management fees). 

If the numbers still look solid after you factor in those taxes, then it's probably a smart investment.

For example, you can prepay for your marketing, your entire office rent for next year, your insurance premiums, your property taxes, your attorney's and accountant's fees, and so on.

This is what is pushing up rental demand for small MF properties that having lower rents, fees, or total move in costs compared to other larger commercial apartment complexes.

I will happily foot the bill for supplies so they aren't out any money out of pocket, but with the prevalence of contractor-stole-my-money stories, it makes it hard to fork over an upfront fee.

That little piece of paper saved him a fortune in legal fees and stress.Gather Hard Evidence: You’ve already got a strong start with appraisals showing the property as a four-unit.

There is no PM fee after.

For me, that includes late fees, the cost of the eviction filing, etc.

For that SMALL landlord, turnover/vacancy is VERY expensive because it takes them longer to prep and fill the vacancy and they are also paying the PM a fee for tenant placement whereas the large landlord is using their staff who is being paid whether they handle a turnover or not.

closing cost are paid out of escrow at the time of closing not in advance other than maybe an appraisl paid to 3p and a small app fee like 50 to 200 bucks  like Lending home.. which is real.