We got a bit delayed in the permitting process...We had to get a geotechnical report done due to a slope on the back side of the property, but are now back in process again.

In New Hampshire, title laws are strict, so we couldn’t move forward without obtaining a signature from a living heir.The title company dug deep and eventually located a distant relative—a niece of the deceased owner, two generations removed.

I also have talked with this company but I feel they are not telling me the whole story, makes me leery of this business.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

It sounds like you don't have enough information due to conflicting reports.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification.

Reading thru Vail Resorts annual report the other day and looks like they loose money. 

I’m an investor and the owner of a property management company based in Kokomo, with portfolios extending into the Indianapolis area.

Quote from @Mark Forest: The company I have invested with has done a great job explaining why this is happening and what they are doing about it.