My tenants of 3+ br stay 4+ years on average, but if it is .e.g 4 units of mixed of 1br and 2br multi-family, you mange 4 families instead of 1, and turnover rate of each unit is less than 1 year according to my observations on my neighbor.

I will do all the planning, all the work, mange the project a 100 percent.

@Kendric Ng I would call around to well known LOCAL banks and take their investment bankers to lunch or coffee and explain your goals and get their product offerings.

Management fees should depend on the property type.Class A is easier to manage, so gets the best rateClass B is a bit harder to mange, so gets slightly higher rateClass C can be a pain to mange, so gets higher rateClass D usually requires the attention of a DIY landlord to succeed.

Other homes would be expected to be in the $70,000 - $100,000 range for these same components with the balance of the mortgage held by a bank.Below are actual revenue, expense, and NOI numbers for this home which we would use as a model for further acquisitions.Property Management is high, it costs a bit to manage the placement of multiple tenants, handling of disputes, and collection of rents as well as mange the cleaners, landscapers, and handymen.The 2.5% for maintenance, and 5% for capital expenses would be variable but should not be much higher than 5%.

@Angelina Ng We've started in Feb 2019 and have grown since then. 

I own or mange for my kids 14 units in and about the Austin metro.  

-Most landlords usually charge a flat monthly fee for water when it is not sub-metered @Angelina Ng

Thanks Michael, There is definitely a lot of work to be done:- Paint is pealing off all the walls- New appliances for 3/4 units- All units are required by the TWP to be connected to sewer now- Bathroom rehab for 3/4 units- Above ground oil takes removed and boilers replaced or retrofitted for NG (This is more a nice to have)I asked the owner if he would be willing to do owner financing and he said no...

I choose to self mange this property since it is at a higher rent rate and new construction.Deal finding: Upside opportunity to increase rent over time.