So, you have to watch and strike with the price drops.

None the less, you can strike what ever deal you want including showing up on moving day and helping them.As briefly discussed, when you purchase any mortgage typically you will get title abstracts or title opinions to ensure your lien position and see if there are any other liens or encumbrances.

Almost all of my clients last year were investors who found the MLS dried up and needed to strike out on their own to go after off market deals, where there are not multiple bids.

Cost Assumptions Strike Price $1,050,000 Property Value $1,281,293 (Improvement $1,030,429, Land Value $200,000, Accessory Value 50,863)Closing Costs $31,500 (3%)Cash in $346,500 ------------------------------------- Financing Assumptions Downpayment 30% Finance Amt $735,000 Downpayment Amt $315,500 Interest Rate 6.0% Mortgage (Years) 20 Mortgage Payment $63,189-------------------------------------- 40 Unit Mix18 - 2 Bedroom 1 Bath Townhouse 8 - 3 Bedroom 1 Bath Flat 14 - 3 Bedroom 1 ½ Bath Townhouse -------------------------------------- Revenue Assumptions using current rent rollGross Potential Income $292,920 Gross Operating Income $263,628 (10% vacancy)Actual Income2012 $251,0002011 $282,3782010 $271,791-------------------------------------- Expense Assumptions50% rule $131,814Actual Expenses2012 $166,2452011 $144,8252010 $142,500-------------------------------------- Cash Flow & ROI Net Operating Income $131,814Capitalization Rate 12.6%Monthly CF Per Unit/Door$142.97 Break-Even Ratio74%5 yearsCOC Return (CFBT/ Acq Cost)20%Debt Coverage Ratio (1.5min)2.09Principal, Interest, Taxes, Insurance (PITI)$96,462Ratio (1.2min)2.73Need to also get a good walk through of the property to gain better insight into condition and any deferred maintenance needed right away.Its not a steal of a property but a decent deal and from what we found out so far a lot of it has been updated in the last 3-4 years.

But now that I'm ready to strike out on my own I'm having trouble finding a good, vetted Property Manager Agreement.

Unfortunately she is a Section 8 tenant and doesn't have money to reemburse me for the fines.Another strike against HOAs.Thanks for any and all advice.Debbie

But if the mood strikes, a hearty bolognese is on the stove. 

It will cost you money, $20k to be exact here.I don't mean to sound harsh but when people who aren't in the field of wholesaling give advice that is detrimental to the success of a deal it strikes me as something that should be pointed out.

$3860 strikes me as extremely high - I would ask what the usage volume is.

None the less, I am getting the feeling your post was not intended to strike up conversation but rather pitch how good your contractor company is.