Would that be a proper tax treatment? 

Hi Brett, you should run a proper property analysis.

The big question is whether you calculated cashflow properly.

Your emphasis on proper property management is a key takeaway, and I’m committed to educating myself in areas like tenant screening, lease enforcement, and proactive problem-solving.

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

An LLC when properly formed and administered provides separation and protection of assets that are outside of the LLC from the actions of the LLC.  

A CPA can ensure proper filing of rental income on Schedule E and help identify tax-saving strategies, such as optimizing deductions for maintenance, repairs, and travel.

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

They don't know how to properly qualify an investor.Check around before making a decision.

@Jordan Miller - I think to give proper guidance it would be good to share more details on the revenues and expenses on the property.