Praise the good attributes of the home but respectfully express your concern for the current condition and ask if there is some help you can offer.

Now that I have a property manager, I heard the %18 and believed that to be the total expense without realizing the additional (cleaning fee, lawn care, state taxes, pool care), etc...so the effective rate is much larger and my net take home much less than I anticipated.

The owner of the mall, Pennsylvania Real Estate Investment Trust (PREIT) has attributed this to the mall's strategic positioning and continued development of experience-related retailers.

As for the manager I hope to hire, we plan to build him a house attached to the on-site office that will accommodate him, his wife, and his mother in law who are to serve as relief for him as needed.

The famous joke in the office was when I told a PM (property manager) I bought a property they would ask "did you walk through it or was this another Keaton special?"

@Jeffrey Smith, @Maham Javed, I am a property manager, I am happy to mentor you all to get started.

A good property manager is absolutely paramount if you're not going to self-manage. 

The falling population is likely attributable in part to bleak economic conditions.

But I still wonder if a property manager is needed for that aspect. 

It has some compelling attributes for real estate investing.