that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I own a MTR management company in Los Angeles, currently managing 27 properties.

Even competent 3rd party management can only mitigate, not necessarily address many of the issues that arise when owning lower tier properties & population growth alone is not a magic pill. 

If you are unsure, to start, hire a property manager and don't let the tenants know you are the owner. 

How much are you having to pay the management companies?

I own a 17 unit apartment building near Minneapolis built in the 60s and wanting to implement wifi camera system and modernize the access panel (wifi managed).Any vendor recommendations?

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

@Jason Brown - I'm a CT based investor, flipper, and property management company owner.  

I'm with a third-party Property Management all over Houston managing a little over 300 Single-family or Small Multi-unit rentals!!

I'm looking to connect with local investors, agents, lenders, property managers and contractors who have experience in these areas. :-)