so those owners are pretty comfortable - no mortgage payment - and they don't need to sell, and they don't care where an investor "needs" the price to be to make money. 

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

And must be pretty significant unreported income if it would have caused $45k in state tax liability.You advised your client to wait past the expiration of state statute.

Even after moving 2.5 years ago, I continued to self-manage because I had a solid network of connections that made it pretty easy to handle remotely.That said, it eventually came down to wanting my time back.

I personally feel landlording in Indianapolis is pretty easy as far as restrictions go.  

I noticed the seller started out trying to sell it for $800,000 but he was lowering it pretty aggressively.

Yea, DSCR would be the way to go if the numbers look pretty good on this.

pretty basic website with no indication of what they do.. but I like it that the principals are on there with a bio.. you should be able to do some background on them.its all about the team..

It's pretty much already been said...normal wear and tear for small picture hanging holes...cost to repaint entire unit needs to be accounted for in the total rent from a 1 year lease.

That's a pretty good margin!