They held a webinar for the Ekahi fund and told them they fired the property management, false they quit due to lack of funds.

Bottom line: the tenant doesn't get to decide how to pay you.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

So, when that happens, you won't really have to decide, you'll just know it's a great deal and you'll shorten your timeline!!  

I have decided to DIY and am getting good learning experience.

So, we decided to ride it out and go through the legal process.

Best wishes with whatever you decide.  

While you don’t have to decide this instant (you could always convert later) it’s good to have an idea of the market differences between mf and condos. 

Update: I decided I will pay a $500-750 or so to do an initial hydro-jetting of the system. 

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.