Bringing in different management 2.

I invest, flip, own a property management company.  

If you have facilities on-property, definitely have them use those.

Still, I managed to lock it in for $145,000 by emphasizing how much TLC (and cash) it needed to bring it back to life.

They are investors as well and have good contacts in most markets they sell properties in, insurance, property management, etc.

It’s online only but purpose built for business owners and they have automation for those applying the Profit First cash management system.

However, we are taking over from a PM to self-manage and are inheriting the current setup.Our biggest concern is that this first communication from the tenant was a sob story asking for $500 back/off rent.

Looked around the site, I only see lenders, property managers, agents, brokers, etc. but not developers?

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000