You are probably better off going with one that has a branch you can visit and get to know the management.

Taxes, maintenance, vacancies, management are all different on each property.

Hey Gabriella, as a property manager and aspiring agent you should have no problem finding a mentor.

I’m not looking for a completely passive approach, even though I’d be managing it from outside the country.

Whenever I hear anyone talk about managing occupancy, there is always a heavy focus on leasing.

For FT property management, the rule of thumb is between 80 and 120 units (if they are doing everything).

SO many more options and the reduced responsibilites and work loads are under valued until you deal with them.. lol Also when you factor in management fees it can be quite comparable in net proceeds, without the wear and tear on the property and furnishings. 

Looking back on your earlier projects, what were the biggest mistakes or lessons learned in securing funding or managing build costs?

I am based in NOLA and have a great property manager.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.