Angela,Condos can get really tricky, not just in SD, but anything that adds an HOA can really cut into the cash flow. 

yes, this requires some math - but that's your actual capex.  3% a year probably won't cut it.and - i don't know this market, but i'm skeptical that something turnkey will actually cashflow $600-900 a month. 

Many others that were trained by him, have cut him off completely, the ones with integrity. 

So money partner lender in my mind is critical component.

If you ever recognize capital gains down the road in another state, they want their cut. 

I know many ways to cut down the expenses of business and be profitable some areas. 

Or the other explanation is that they are cutting corners or doing the bare minimum for it to be code complying or both.

They will also cut the LTV or value altogether. 

My lease agreements include how often grass needs cut, tenants paying for their own lightbulbs.

(My company has it’s general liability insurance, of course.)So, this is a temporary arrangement, at least for now.He will charge a fee to pull permits and to do periodic inspections to make sure my subcontractors are doing quality work but I will be project managing the entire job and handling all components of the renovation from design, floor plans, estimating, purchasing, hiring and overseeing the subcontractors, etc.The general contractor and I are regrouping next week to discuss what he would like to charge and I just want to get some feedback from you experts before we meet.