Even then, there is still a lot of competition for deals.

You will find many PM's who charge significantly less, and you will need to figure what your competitive advantage is.

It's definitely harder to find deals today given lower inventory and lots of competition.

The deal was valued based on a recent sale of the local Holiday Inn, (only real competition for us) which also needed to undergo renovation.

Please share companies with competitive rates.

Absolutely,I have a lot of clients working in Detroit and it has some great opportunities centered around 1-4 unit, affordable fixers that, with a little bit of work can become great cash flowing investments with lower annual tax and insurance costs.The downside is that you definitely have to know what you are doing as the good properties need some hefty work, and the market is pretty competitive.

fractionalized TDs and notes in CA is how we ran our HML companies it is standard operating procedures.the Broker holds the originals  and think of the investors just like you would a TIC on a deed.. each investor has a % ownership and is spelled out in the TD and the Note.. now after the fact there can be partial assignments as well. 

Simply, a percentage of the profits; so only AFTER the investors get their investment back + a “preferred” return of usually 6-8% annually.Here is how our equity (as opposed to our debt/loan/notes) syndications are set upwe as syndicators get a either a 3% broker fee or 3% acquisition fee at purchasewe get a management fee competitive with outside managementwe get 10% of gross rents as ASSET management feeonce investment is liquidated we receive 15% of proceeds ABOVE or AFTER investors receive their capital returned plus 10% annual calculated income including any distributions of earnings. 

VA assistants has dramatically reduced our work in the business and provided 24/7 monitoring for a fraction of the cost of local property management. 

I intend to hold it in an LLC in the first place and then make the fractional buyers proportionate members/beneficiaries of the LLC.