If your property management company is good and has built an internal maintenance team which has set rates and had strong relationship relationships with licensed contractor which should keep costs in control, you should never need to shop contractors on your own I wouldn't think.So in short, our policy is give us your preferred contractors upfront if you have them, but then we work all tickets to resolution including dispatch, and payment of invoices.This is of course for operational expenses.  

Pretty sure they will have it covered in their PM contract.Their PM contract also probably allows them to set rental prices.

I WAS going to say you’d be setting yourself up for a large tax bill on that $200k, assuming investment.

@Louis Hamilton,If a HELOC doesn’t work, you might consider these options:1.

Have you considered moving those funds into a self-directed IRA (SDIRA)?

I think you will definitely want to talk to your lawyer because there may be items linked to this transaction you are not considering. 

Consider consulting a CPA and attorney to address tax implications, liability, and ensure proper documentation for your multifamily investment partnership.

Good to have ONE SIGN set aside for a property on a busy street. 

I’m considering countering with a price closer to the market value, but I’m curious how others approach deals like this.Looking forward to hearing your thoughts!

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.