Quote from @Jonathan Bombaci: This year, our management company, which oversees 700+ units in Massachusetts and New Hampshire, spent over $209,000 on attorney fees, primarily related to evictions.

I have been at this since 2021 so I am relatively new myself and really enjoyed it. 

Dissolving the LLC and distributing the property to the former members as tenants in common and then selling is a relatively common practice in these situations. 

The managers are non-communicative.

I work with a property management company in NJ and we see a lot of success with our clients holding long-term rentals. https://www.tvdhousing.com/Welcome to BP! 

One challenge to manage is being able to clarify for lenders on those rentals (if you have them) which amount of the premium should be paid for each rental so that they do not include the entire premium into their escrow analysis, inflating your monthly payment on that rental. 

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.  

What is your average rent amount for all properties managed?

I am currently living out of state so I have hired a property management company to handle this task, however, my home is still sitting vacant with very few prospective tenants.

.- Analyze Comparable Properties: If you’re working in a specific market, reach out to other landlords or property managers with similar assets.