Quote from @Gash Nookala: David has the right idea about building a team, but the most important player on that team is the property manager.

You only get a single point of contact for everything all encompassing, and unless they are 100% competent(not even proficient) you are screwed.

Think of it like learning anything else... elite athletes pay coaches to help them compete against the best.

You only get a single point of contact for everything all encompassing, and unless they are 100% competent(not even proficient) you are screwed.

One partner has over 10 years of experience with 2000 Unit, and next one has about 900 units as GP, and the rest of us were first time multifamily players. 

You only get a single point of contact for everything all encompassing, and unless they are 100% competent(not even proficient) you are screwed.

The other very old school option is to just knock on doors, my first apartment appraisal thats how I collected rental data on competing complexes.

Purchase price: $300,000 Cash invested: $65,000 Sale price: $455,000 This house needed a full renovation to compete in the challenging Austin, TX housing market.

I think we are at the point, where labor costs are actually going down as most of the labor relies on big national builder's for their work, and with home sales slowing down, we are seeing labor rates competing for work, which is driving down the costs.

Ask if you can put in a section for a Non Compete agreement so you can move more money away from the house and buildings.