We moved into one of our 4-plexs that was managed by a company-- it changes everything... it went from a "frat" house, to calm and quiet quickly.Good luck-- if you have any more questions, please feel free to ask.JJ

This is called a waterfall- and the manager can have an incentive based on performance and after certain hurdles are met and original equity is paid off. 

We had a cooler full of Salmon  Elk jerky and Smoked salmon.. if it had a big patch of timber we led with that gift and let me tell you that calms anyone down.

NYC prices along with other cities in the area are high but things will calm down soon. 

I'm ok with you making a $13k waterfall +  7% in the meantime. 

Use a waterfall.

I've been twidling my thumbs in reference to REI for months.I've been researching for months and was getting overwelmed with all the different aspects of REI.I had read a few books,visited various websites and webinars.I finally calmed myself and decided last wed to start off with bird-dogging and wholesaling.

In the multifamily space, todays market likes 7% pref with a split or waterfall thereafter. 

I empathise with you; however, you, as the landlord, has to stay calm in these situations and try to control the situation. 

And you have familiar territory to help calm the butterflies.Good luck!