Apparently some pretty sketchy people from that building are hanging out in front of mine which is scaring potential tenants away when our property manager brings them around.

Let's assume we refi 70% of 150k value ($105k), so that would give us 30k back, bringing our cost down to $37.5k.  

@Jimmy O'Connor 's intention is to bring more investors to the city.

Maybe I am not seeing the full picture but any specifics you could share that they would bring to the table? 

Although as @Drew Sygit asks, what have those PMs that pledged to do it better now learned that may bring them back into line with main stream service providers? 

A report from Apartments.com shows that 178,000 newly constructed units entered the market in Q3, bringing the projected year-end total to 636,000 units.

To protect this community, they are selective about the people bring in because we all want connect with people who are motivated, committed to the process, and excited about being part of a real estate investing community.

if I have no money into the deal and bringing in $200 free and clear every money hell even $100 with no other expenses these usually come through creative deals or owning notes but I would do it. 

However, I see this as a vertical integration and bringing more capabilities in house to make more money instead of hiring an outsider firm. 

You can get reimbursed for cleaning if guests smoke or bring unauthorized pets which easily can be a few hundred dollars per incident.