The repair work was estimated at over $10k, including foundation work, so I used the escape clause that their contract had in it.

Follow up:So does my personal track record - including putting my own personal cash (up to &90K in some SFH traditional finance purchases) not count as a performance track record?

You should be able to get a DSCR financing without including the PM fee in the calculation as well which would give you more leverage.

The full balance including all daily late fees and NSF Fees were paid just days later.

If separate, is GP taking the 20% split + their share as 10% LP or does 20% include their 10% equity (effectively equating to a 10% GP bump)Loan guarantor fee and dispo fee is a little higher than I have seen many other deals.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

This includes finding and vetting vendors, following up on estimates and completed work, and making sure turnover is as quick and painless as possible.  

Every state is going to be a little different in terms of forms and procedures, but expect any buyer who is represented by an Agent to include a request for you to pay some or all of their agent's commission with their offer just like they would have prior to the NAR settlement.

The biggest thing for you to do when buying out-of-state properties is to build your CORE 4 which includes finding a great realtor, contractor, property manager, and attorney.  

The definition includes, but is not limited to: Negotiating, promoting, or advertising the sale, exchange, purchase, or rental of real property, or the granting or acceptance of an option to sell, exchange, purchase, or rent an interest or estate in real estate or a time share.