In this article, I’ll outline the four areas you’ll want to investigate before moving forward with your investment.Asset Class - There are as many options in real estate asset classes as there are ticker symbols in the stock market, so it’s important to identify an asset class that historical has provided the type of returns you are hoping to get with your next investment.

Based on my analysis (found an analysis spreadsheet online: BP post Master calculator copy - Google Sheets) I'm seeing -3% CoC return in the first year and I'd probably pass on it unless there'd be obvious opportunities for forced appreciation which in this turnkey scenario might not be the case.The listing outlines property taxes as $4k/year and property insurance at $1.5k/year.Some of my assumption:-Vacancy reserve: 10%, Maintenance reserve: 10%, Property management fee: 10%, -20% down, 7.5% interest rate = ~$100k cash investment.

He outlined a couple creative strategies for holding larger portfolios of rentals. 

My insurance specifically outlines pet breeds that they have deemed as aggressive and I won't allow those in my rentals.  

Indeed, as Allan laid out it is rare to see high levels of conversion with cold email marketing BUT I'd argue that is primarily due to our approach.We instinctively think, as @Keegan Van Kooten outlined above, that we should lead with us (who we are, what we can do for them, etc). 

All details of the relationship between a property manager and the client should be outlined in a management agreement which needs to explain the manager's compensation.

I also have it set up in the same way as you both outlined in your comments.

Your contract should outline how those fees are split up between you and PM. 

My goal is to increase my exposure in non-apartment asset classes, but it’s hard to argue the results I’ve received in recent years in this space.I realize many of the readers of this article are not investing in real estate outside of their personal residence yet, and the strategy I outlined above could be a little overwhelming.

@Ryan Copeland, when someone asks for an offer letter, or letter of intent LOI, I give them a basic one outlining price, downpayment, contingencies, due diligence period etc.