Hello All - I have a question regarding property management.We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on all rental agreements starting in 2nd month, OR $65.00 per month, whichever is greater."

We will be doing theme houses and/or brightening up the interiors a ton on whichever places we choose.

Whichever method you use is your choice and preference, but this is where the automation typically starts. 

I would also try to take some books out of the local library on whichever particular area of investing interests you!

Most lenders won't do loans under $50k, and the only lender I know of that can will require you to have at least 20% of the total costs (purchase + rehab) liquid in your bank account or $15k, whichever is greater.You mentioned that you only need money for the repairs; does that mean that you are able to pay for the property up front with your own cash? 

Cash flows well at this 4% rate and the refi rate of 5.5% amortizated over 25years.My bank has said they do 75% LTV on the purchase price or appraised value, whichever is lower.

I assume one would be charged to both parties, and then provided back to whichever tenant is left at the end of the 12 month or month-to-month term?

Saying that, this house will always have a stigma and whichever comps you are using will need to be discounted as this house will never sell at the price of compsMy suggestion is that you bail

For example, can the bank tell us, “you need to occupy whichever apartment you can make available first.”

When it falls, which ever property it lands on is the new owner of that tree or limb.