That is subjective though - I just advise my exchange clients to understand that number and understand their exposure.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

(I actually laughed when I first learned this.)10% property management fee (With separate charges for new leases, repair management, and rent collection—what exactly does this cover?)

BTW connect with me I like to help folks through subject to or seller financing since theirs so many problems one needs to get right.   

Would an umbrella policy cover us? 

I BELIEVE this credit would be treated just like covering buyer’s closing costs. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

You ARE subject to CA LLC tax just by the fact of YOU being a CA resident, sorry.

He's glad that his PM covers certain areas of Akron (near University).