Need to have the option to be ready for that kind of thing. 

The Jerome Village income charge is definitely unique and it's not common at all in Columbus subdivisions.

The properties are residential, but on commercial loans for an LLC.I've done 1031s before for like kind exchanges.

Also, we had a number of people migrating to Michigan for short term projects in the area, so that kind of helped.

Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capital gains taxes by reinvesting the proceeds from the sale into a similar “like-kind” property.

I'd recommend a "Templates Folder" that has templates for common used docs like leases, notices, advertisements for properties.I actually just did full video on my Google Drive set up over on my YouTube channel :)

There are two kinds of people here on the forums.

I'm talking to the seller's broker, but I would like to find my own people to assist with the due diligence period, such as an SBA loan broker, an accountant with experience doing QoE for this kind of transaction, and a lawyer.

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong. 

@Aus Smith if there is base rent and then an extra fee the resident pays for a common utility, we count that as revenue towards a percentage-based management fee.