Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

-Provides peace of mind knowing you own the property outright, which can reduce stress, especially if income fluctuates during slower seasons.

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

It's a relationship game more than anything, so if you're building strong relationships with them and providing a consistent product, you'll be golden.

Having the contractor relationship in place to move quickly and provide a high quality renovation at a reasonable price.

Is her goal to be nice and provide some of the gains or reduce her taxes by trying to split income between her and her ex?

@Kunal Saluja we've got a map with a lot of information at our website:)

I have been watching the podcast for a while but just started to like at the website.

So the idea of doing this all from afar is a bit daunting, however, I know the most important thing here will be to create a great team and outsource as much as possible.I have set my sights on a couple of different markets being in the Southeast and the Midwest; these markets seem to provide the cash flow I am initially interested in generating to value add to the properties I purchase.