Hi Carlos.Property Management is divided into a couple of areas though people often refer to it as "property management". 

I had discussions with a co-worker all bent out of shape that his landlord who had a duplex, takes the gas bills, and divides it by half, and have him pay his share.

Total profits last year—subtracting property taxes, management fees, insurance, and repairs—were approximately $12k (which was then divided into shares for us and relatives).The city is Grants Pass, Oregon, population 40k, with median household income around $50k (50% lower than the national average).

"It is not legal to divide an existing dwelling unit into separated living spaces, thereby creating new dwelling units, without first obtaining DOB work permits,"  That would be an illegal conversion and can result in violations and other enforcement actions.

I then divided the amount per item by the number of months of life left in them to get a CAPEX cost per month.I recently read an article by Brandon Turner on why sub-$30K houses will never make you money and he had put together a similar analysis on projected costs.Cheers,Helen

I adjust this number to something I consider realistic and add anticipated capital expenditures and costs of replacing major systems divided by 15 or 20 years to arrive at an annualized expense.  

Also, define how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

The result is multiplied by the percentage obtained when dividing the portion of total federal grossincome derived from North Carolina sources, as adjusted, by the total federal gross income,as adjusted.

As in, rent the room out to househack not create a divided space.The re-sell value for SFR over MFH(2-4 units) will more than likely be superior in forms of an absolute value and percent basis in really HCOL areas. 

I provide/manage the funding, books, oversee the budget and manage cash flow.We do divide the the responsibility of finding deals and of course, we both have to agree on the numbers before we make a move.