Most of our properties are out of state, so we prefer to have PMs just bc we can’t address most of the issues ourselves physically there. — screen your PM carefully and we’d rather pay a little more for better PMs than some flat fee PMs.

In general, many residents are OK with lot rent being raised as long as the costs are justified and they can physically see where the money is going with the types of upgrades and improvements made to the park.

Lesson learned here is start working on your investor documents immediately after you've completed the bulk of the due diligence activities including financial reviews and physical inspections.

@Alejandro Moreno  I don't physically live in Chattanooga myself so I'm missing out on the opportunity to meet with you but it sounds like you're looking for some help and I'm always willing to chat and share what I know. 

Otherwise, it's hard to manage sub-contractors, inspections, and the Residents themselves when you aren't local and able to physically be there.

@Nancy Le being close to the property can be a benefit, but unless you are physically doing repairs, it's not 100% necessary.

If anyone in the community ever needs an opinion about an investment in greater NYC area, breakdown of good or bad neighborhoods, pricing or simply have me physically go and check a property for them free of charge (& zero competition, I promise, lol) feel free to reach out!

I am living proof that with determination, hope, and constant work, the ability to move, mentally emotionally, physically, and professionally, in a positive direction can be done. 

I'm looking for alterative solutions to separate my physical self from having to collect the cash payments. 

I was told by our local HUD representative that we would have to fill out a HUD form 2530 and go through the Transfer of Physical Assets (TPA) process to complete the purchase of this property, even though we are not going to purchase this property with a HUD backed loan.