It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I don’t mind paying those fees if I can build a solid, long lasting business quickly.I know I can piece together all these things by attending my local REI meetings and making connections there.

This allows you to build a single family up front and a duplex in the back of the property, effectively creating a triplex with out all the extra building codes.

While that kind of income is not a deterring factor, when I looked over the terms of service many big red flags came up.

Form 3115 allows you to restore the fairness in this situation and "catch up" with the remaining $30k of depreciation that you failed to take in the years past.

did you end up finding one?

I wouldn't get it tangled up with the operations/financials of the property.

My budget for the property is up to $200K. 

BUT we can make up any numbers that we want. 

Otherwise, I would work backwards from the laundry basin for flow and work your way up to the slow faucet.