I have found at this point his advice is become less and less useful and seems to push heavy for giving him large sums of money to enter into partnerships. 

To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ugh), so this is all pretty new to me.Here’s my current setup:I’ve had a property management company using AppFolio to handle the heavy lifting – rent collection, owner distributions, expenses, and the whole shebang.

A few years of no/low premium increases coupled with crazy inflation, lousy investment returns, and heavy losses and they're just trying to get back to some stability and end their losses.

Both can be pretty maintenance heavy...

Partially due to extreme competition in my area.

Many reason I stay away from Condo's including:HOA regime feesUnexpected and expensive HOA assessment fees for upgrades or repairs that you may not agree with.RulesClose proximity to others that could cause disagreementsSaturation and competition on renting condo's ParkingI would personally never buy a condo for these reasons and look for a deal on a house.

I'm sure you heard how you can buy houses "for pennies on the dollar" just pay the taxes and the house can be yours. the reality is while that is possible the competition dosesn't allow it to happen.

They tend to find the worse for wear properties at the lowest prices, so if you're looking to do heavy rehabs that's a good starting point. speaking with other flippers in the area or real estate agents would help give you the best idea of what you may be looking at for ARV's and rents if you planned on holding any of your properties. 

So competition goes up.

Looks nice and clean @Annie Balagot, but you are in a very competitive market and your bedrooms need better themeing.