They make you pay 85K as what they call "your Limited Partner contribution" in your first deal. 

They must provide quality service, or their clients won't want to pay the price.

Currently, I am looking at Hemlame for local, I tried to use them for an out-of-state investment property, but the cost with an agent would end up far greater than a full-service property manager.The dream option would combine all accounting, bill pay, rent collection, provide eviction services, and maintenance coordination outside of normal hours.

Especially paying MN taxes on NV tax free properties.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

At $800/month, that would barely pay for the rehab costs (using BP's 1% rule). 

One of the first deals I had (multi in an up and coming area) my buyer was paying cash and the deal was solid.  

Hopefully the current occupied units are paying every month.

The only extra pay for guests is the surf-rider.

You pay for what you get remember LOCATION , LOCATION!