Quote from @Dan Shuder: Not all property managers are equal.

Everything is "attached" to a property. 

Why hasn't your property manager already answered this question?

He can fight the seller to still buy the property but you are out of the deal and want your money whether he signs cancellation or takes it from his pocket.Key thing is focus on your agreement / contract and your rights.

With a bit of planning and good operations, one can easily manage 20 to 30 properties without an assistant, with less than a day or two a month.There's lots of automated ways to check on rent, make deposits (my tenants deposit directly into a bank account), receive maintenance requests, have maintenance done, etc., etc.One thing I could argue is to have your tenants ONLY email you, especially for maintenance requests, and that email goes directly to the vendor that you have set up to handle it.

You can list the property as a "net listing" and take the difference over what the seller is willing to sell for that way. 

I look for distressed properties to get better profit margins How did you find this deal and how did you negotiate it?

Quote from @Marcos De la Cruz: Thanks for the reply but I'm interested in reviews pertaining to that company and the properties they sell to investors.Not really considering them for PM. 

Live in Florida but own properties in NY.  

I use an excel sheet I created that includes the date, REPS category, property, description of activity/activities, the people / tools of the activity and the hours spent on the activity.