It sounds like you have a lot of experience in this space, and I'm always interested in learning more.I think one takeaway is that this is a difficult asset class to own and operate, and just like @Jay Hinrichs mentioned, having a great team is essential!

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.

Which means to me that Zillow is cracking down on people hunting for arbitrage on its platform.Consider that, and other potential barriers, when assessing your marketing tools.

This tool (no affiliation with BiggerPockets) can help your son find properties with assumable loans. 

Hi ALL,Can anyone recommend a easy to use property management tool that we can use, so far, we have 4 rentals and growing, We will like to have better control of the information and have a easy system for tenants to pay rent.As always, thank you for your input!!

@Daniel Han -  So there are essentially four parties in this situation. 

Just curious - what tool are you using to create these graphs and tables?

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

I think it's fair to say that for some people, reading can essentially be another form of procrastination, just like social media and TV.