I was hoping you guys can chime in on possible reno costs to help explain and make an accurate initial offer (doing my best to get a contractor in), how to make this smooth for him while he’s here, and any other ways to put him at ease to lock this up. Keep

My wife is a licensed agent and I passed the licensing exam though I never went with a broker.If I went all the way managing, including renting it out, signing leases, collecting rent checks, upkeep, repair and maintenance, paying the bills, taxes, insurance, I would do it via a master lease, preferably a NNN lease, and for all intents and purposes, you can act as a landlord, make money on the rents, and not have issues with licensing as you have an interest in the property.

But there could be other factors that would give more weight to one area over the other. 

Keeping a property means that money is locked up = no more fees and deterioration & more upkeep = lower resale value.  

Even if they were going to place weight on the price per bedroom approach, they have no basis for that approach, or the adjustments they have made - or at the very least (and nicest I can be about this) you are not seeing that data in the report - they might have that somewhere else in their work file or another work file.At the end of the day and as stated earlier the relevant data used in small income mortgage appraisals is the actual sale price of the comparable properties.

Hi @Wesley Quinn, property managers are worth their weight in gold and ultimately, they are the means by which you can scale in real estate.Here are some recommendations on how to find a property manager:1) Google and Yelp to see what the available universe of managers is2) Call the owners of comparable properties to see how they use and get referrals3) Qualify your list by whether or not they have experience in managing the kind of asset that you plan to buy and how professional they are e.g. do they have a team, do they employ software like appfolio, building etc4) Property management works best when you ‘asset manage’ them so don’t plan to be completely hands off.

You get the benefit of a great neighborhood and a comfortable lifestyle with no hassles of upkeep or grass cutting or roofs blowing off, etc... 

Ugh, I hate water issues.Anyway, resident understands that the fix isn't immediate and asked if he could get a reduced rent for his subpar living conditions (collecting the water at the two windows, cleaning it up, keeping belonging away from the windows, etc.).

Want to have my passive income out weight my expenses which is about 20k annually.

(have fun dialing in those 'weights' for your attributes :) )Goog was throwing me an error on the sheet sizes... not sure why, nothing should have went over 5 million cells.