G'Day everyone,The team (@Dominique Osborn, @Sean Mahoney) and myself have an opportunity to on-board 189 units.This would be a very nice "chunk" of new business but to be honest, I'm inclined to pass.I have always believed in doing business on your terms and for terms not to be dictated by someone else.Especially when you are looking to hire us/me to do the work for you.Also, business done right needs to be a win/win for all involved and this doesn't seem like a win for us.I do however understand the caution and reluctancy to "let go of the reigns" per se as many landlords get screwed by property managers.But at the end of the day, you have to "let go" and let someone else do it or just do it all yourself.I'd love your advice on the suggested terms given to us below:1) In AppFolio they want admin level access to their account.2) They want a standardized list for maintenance items so they know in advance what repairs would cost.3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $3006) They want tiered PM Fees based on occupancy.... for example (their example): at 90% they would pay 8% PM fees, at 70% occupancy they would pay 2% PM Fees, and at 50% occupancy we would part ways.The deal breaker in my opinion is points 4, 5 and 6.With the lack of oversight/control on maintenance we have little control over the occupancy and it kills our process and efficiency.So in a way, we are destined to fail from day 1.Also, if someone does want so much control why not just self manage.The unit count justifies hiring 1-2 full time people to run it.Otherwise, let us do our job.

There are definitely some risks involved so I highly suggest working with an investor friendly agent.

Get an expert involved before you close.

@Butch Greene  We have had similar situations, one involving an FHA buyer of a two unit, where both units were under lease. 

Not something I typically get involved with so was curious as to what rent/room is in the area.

Hi - I’m relatively new to the real estate game and am just starting to read multiple books involving this topic.I noticed a house being cleaned up two weeks ago, talked to maintenance people, and was in the right place at the right time to talk to the owner.

They've been overall happy with it, but you are going to be more involved in the process than you would be with a full service PM on board. 

I am just wondering if I should be looking for another PM or be more involved with the tenants 

The due diligence when compared to a single family or small multifamily is much more involved.

Taking action today that involves a significant hit to your credit score could increase your auto / homeowner's insurance premiums and increase the interest rates for new  loans for an auto or property, etc.In fact, some opportunities may close to your altogether.