Water damage/mold/ect. is much more costly to repair than to prevent.3.

He is willing to deduct money off the cost of the building for the needed repairs and just lower the price for me to do the work.  

Is there a way to accurately evaluate the repair cost of this kind of issue? 

It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions. 

Things I've got down to minimal effort or fully automated: * Rent, security deposit, and fee collection* Basic accounting and tax packet creation* Listing vacancies* Lease signing* Applications, credit, and background checksThings I'm still dealing with directly ad-hoc or don't have a well defined process or solution in place for:* Requests and communication with tenants* Finding and coordinating service providers for maintenance and repair work* Scheduling showings and getting prospective tenants to make their appointments* Tenant turnover for move in and out* Keeping up with legal changes and lease template updates* Setting rent amounts* Lease enforcement - tenants are responsible for things like yardwork, routinely get letters from the city about weeds / tall grass, etc.Questions for the group:* What am I missing if I were to make out a checklist of an "automated property"?

-reliable "handyman" who can deal with minor repairs (make sure licensed and insured)-tenant self-inspection app or use third party service for inspections-vendors to service home functions, e.g. plumbing, electrical, HVAC, etc.

There are a number of great solutions out there that provide a tenant portal where they can go and upload pictures of the problem and then track its repair, but the cost of those solutions typically isn't feasible if you have only a few units. 

High real estate taxes and older homes requiring a lot of repair and maintenance. 

Your financing should be based on your goals as well as your cashflow (after paying the mortgages, repairs, vacancies, etc.)

Built and installed the cabinets, trim work, sanding the stairs, drywall repair/patches, demo, pressure washing, installing new doors, fixtures, etc..