If you have a fancier kitchen faucet it may not work unless you get one for the specific model.

You can kind of extrapolate a cap rate based on this and it aint great. 3.5-6% would be my estimate based on how agreesively you model expenses.

PMs have a very difficult job and I'm of the belief that a 10% fee doesn't support the model for "great" property management. 

Initially I thought the latter would be the more successful model because it would provide more additional value.

That could be because we are primarily rehabbers and not wholesalers, but even my high volume wholesale friends have found that to be true and have changed a lot of their business model to accommodate listing on the MLS.

I've seen a lot of people start out buying and selling properties in their personal name, and after they've done a few deals and proven the business model to themselves, THEN they form an LLC (note: this is not legal advice - just an example of what I've seen some people do).

.)* Reserves - savings from each rent payment for future expensesIf you wanted to use more like a PM, you could set up an online form for tenants to input requests and include attachments and track maintenance through it.Hope that helps.PS - I still use Excel for projections/modeling

The home me and the Mrs. have settled on, is yet to be built but we like the model and a similar home that was recently built that we have extensively walked through.Now, here is the catch.

I want to be a role model for my sons, give generously to others, and surround myself with beauty (that may be why I own a flower farm)."

In this case if you failed to pay they would need to have someone come up with a whole new process that may or may not fit within their business model.