This means they will have practically complete control over whom to rent, how much to rent for, and how much to charge for repairs, etc.

(trying out my newly learned skills, lol) I completely agree with you that it is important to know your market as I'm trying to learn mine right now.

A helpful trick is to completely ignore the rents the buildng comes with and figure out the actual market rents you can get. 

In terms of is it a good deal that is completely subjective.

I live in Chicago and am working on my broker's license currently, hopefully to complete by the end of the year.

I will be primarily buying single family homes to start. 

This will primarily effect tenant's sales and your ability to re-lease when tenant moves out.You have building risk: primarily, how easy will it be to re-tenant if your tenant goes dark or leaves.  

Hey Jeff, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

The management company emailed me the following on July 17 " Im working with the board in terms of fumigation, we plan on painting so this needs to be completed before then.

My  ultimate goal is to buy and hold but with the higher interest rates I am trying my hand at flipping since its difficult to cashflow with a long term rental.I am  about to complete my first flip project and  wanted to weigh my options between selling or keeping as a mid term rental. 1) I am curious how the market is fairing particularly in Garland Texas.