Also, setting up proper banking and other procedures is important if you choose an LLC option (avoiding things that will help an appossing attorney break through the LLC)

We try to break that down as much as possible through density and mostly urban infill.

Anyways, we had someone make an offer on our property that would get us out of the deal and breaking even.

Simple and fair.First month received that $200 and was distributed as above, Everybody happy.Second month received $200 on time and PM break down that amount and claim there is $45 late fee, and all that $45 goes to PM account.

.)- I conservatively project to break even (hired a property manager which takes away my cash flow.

People who break contracts can be sued.It your goal is to find a buyer for the property, that is considered agency.

Now if they broke down the invoice by line item and showed the break pads cost them $25 and they are charging you $170 in labor for the 1 hour of work how does it make you feel? 

This happens because there are stiff penalties for breaking a fixed mortgage where you end up owing all the missed interest to the bank.

Of course if these Californians had the money for 20 or 30 Ohio properties they could simply buy 5 good ones in California and have experienced earth shattering record appreciation numbers over the past three years instead of break even or loss scenario for their time and efforts. 

But they are on loan and if they break tenants are responsible to get them fixed.