@Natalia Perlova this is part of management headaches!

Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best.

The part about getting out of your own way is so true, especially with managing subcontractors.

This approach helps manage costs while providing predictability for tenants.Thanks @Julia Lyrberg!

Bringing in different management 2.

Go for the independent PMs, not just a real estate agent offering property management on the side or one of those cookie-cutter franchises (PMI / RPM). 

Plus, if you self manage you could wipe much of those taxes out with depreciation. 

@Nicholas Nakamurain order to be successful, you will need to build a network on the ground in Ohio with people you know and trust. buying a random property on the MLS in unknown condition based on other people looking at it, and putting it under management with people you have never met, will not work, and you will lose money.https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...so - what's your plan? 

.- Who will be your Property Manager?  

Hi everyone, I recently purchased a rental property in a condo managed by an HOA, and I’m dealing with a challenging situation that I’d appreciate advice on.