I didn’t like the expense involved when I researched cost of maintaining a business account to self manage 1 rental and found that the LLC route wasn’t necessary if we maintained an umbrella policy, so I just keep track of rental income and expenses (not that hard) on the one I self manage and any extra expenses on the ones managed by property management to add to their annual summary for my accountant.

@Steve Cribb to be successful, landlords need to set boundaries.Many tenants, especially desperate ones, try to make their problems their landlord's problems.As a PMC, we try to be reasonable, as "life happens" and "tenants are tenants for a reason", meaning they don't plan well and live paycheck to paycheck.Part of our being reasonable though, involves deadlines and we AUTOMATICALLY start the eviction process so a tenant knows this. 

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

The bankers involved got together to create it.Are the people at the Fed government employees?

@Nubia SilvaFirst thing you need to look at is your condoDocuments and understand what is common area vs unitFor example a plumbing line that is a main that runs through the walls may be considered common area but if water is leaking around the drain in your unit then it could be your issue.First identify the leak which the condo association should be involved in when it’s unit to unit leak to get it reviewed to check where leak is from.

Just so you know on my newest purchase I am looking for renovation money as well as financing and the bank is looking for formal quotes as to the materials needed and the amount/cost of the labor that will be involved.

What steps to take, who needs to be involved, etc.I think that you will find that you can manage the property with the right set of people in your contact list.

This is how I run it where I amOff market deals from my own marketing, no agent involved I flat fee list it every time.If an agent brings a deal I sign with them on the purchase of the property and I give them the sale of my rehab as the listing agent.

Fantastic, you picked a great time to get involved, there are tons of opportunities out there. 

This involved new windows, tile, refinishing cabinets, adding a bathroom, updating a front porch, and several other things to bring this property back to life.