Hi BP Community, I'm an investor in a few Ohio markets and I'm looking to break into Detroit.

I'm so use to being involved in the day-to-day business of the property management side of things so I'm struggling to understand how much the new property manager should be communicating with me and how often.As an example, I had a tenant break a garage door recently (drove into the door on accident).

How will they handle maintenance, rent collection, tenants breaking the lease, non-paying renters, etc?

Assuming NJ allows it, I would add a clause in your lease specifically calling out the forfeiture of deposit if the tenant breaks their lease early and/or does not move in.You may also be able to attempt to collect rent until the unit is re-rented.

The last two years I'm basically breaking even on the rents, but after cap ex I'm out $2000-$3000 so far.

Fast forward to end of Jan 2024, we find a new set of tenants who sign a 1 year lease but break the lease in May due to a family emergency.

I am sure it is possible to do well on a flip but most stories I hear people take anywhere from 6 months to 2 years and on their first barely break even because they are learning.

They are expensive $200 each but they do not break down and you can track who uses codes so a family could each have their own code per person.

Mark Nishiguchi, you threatened to post bad things about me if I didn’t fix your property after multiple break ins.

Breaking or terminating a lease agreement early can be a headache to the landlord.