Hey Meghan, Someone like you in your position might find success in buying an existing property management company rather then starting one fresh.

Additional info:- We will both live at the property and rent by the room - Loan would be in his name but has been working less than a year (100k+ salary)

But you have to be in a position to mail consistently to these folks, and then take the calls and follow up.

I'm not quite going all in like that but most of my salary does go directly to pay down the loan.

It puts you in the position of waiting for a written cancelation from them or move in day.

I think the person who answers the phone is the owner and maybe he does not have a lot of overhead.If datazapp tells you they can give you the information you want then I am 100% positive they they will deliver.

- My opinion is you should try to negotiate a compromise with the seller and if that does not work out, sue in small claims and hope for a positive outcome.  

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I.e. if you pay $1,500 in rent right now, when you are living your own property, you are in a better position as long as you are spending less than $1,500/mo all said and done, so even if you are out of pocket $800/mo, you have better cash flow and building equity than just continuing to rent.All that being said, in many markets, most deals are not cash flowing unless you put a significant amount of money down on the loan.  

He's in a great position.