Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.What accounting software do people recommend? 

While it might feel like an extra charge to tenants, these packages often provide value that indirectly benefits the property owner as well—like reduced maintenance calls or ensuring the property is better protected.In my experience managing a large portfolio of properties, these fees are becoming more common due to the thin margins in property management.

Ask to speak with some of their current owners and current/former tenants.

Which of the two scenarios are we talking about: Subject-to or Owner-financed wrap? 

My name is Jack Pasmore, and I’m a realtor and co-owner of Redeeming Equity LLC.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

Larger owners tend to analyze market rents monthly or even weekly and manage rents (or incentives) the best way they can.As long as the owner is engaged, the chance of adjusting rents is higher.

The work around was a Mexican bank was the owner and lease it to the foreigner.