Also your risk profile and total net assents in each LLC matters too. 

It was obvious he valued the upfront fee more than the potential of a real partnership where we could collectively earn substantial profits (hundreds of thousands of dollars vs 10k) in a matter of weeks.

Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place. 

I consider myself day 0 total noob on section 8.

Obviously, rents are very cheap there, but it seems I can find MLS listings that match or come close to the 2% rule.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Our portfolio has grown to 108+ homes across 4 markets totaling more than $40M in assets managed.

This is not a total deal breaker, but am I little frustrated that sellers misrepresented 2 of the leases being annual until 8/31/2025.

Most self managers are intimidated by the process and put up with stressful issues like this for years and never take the simple, obvious steps.

This is is a very good area and would actually live in 1 unit, so 3-4k negative cash flow for living expenses is ok, as any house w mortgage would cost that.https://docs.google.com/spreadsheets/d/1tfbjOlyVsGW3nHLVPk_R...Key questions/assumptions:- Total for this deal in cash is 300k, anything else (reserves, renovation loan etc) would need to be a bridge loan or hard money- 1 unit is vacant and current rents are VERY under market, projected rent is what seller gave as realistic.