And putting together 4, 5 or 6 land deals together in a year, the flipper just can’t produce those results.

G'Day everyone,The team (@Dominique Osborn, @Sean Mahoney) and myself have an opportunity to on-board 189 units.This would be a very nice "chunk" of new business but to be honest, I'm inclined to pass.I have always believed in doing business on your terms and for terms not to be dictated by someone else.Especially when you are looking to hire us/me to do the work for you.Also, business done right needs to be a win/win for all involved and this doesn't seem like a win for us.I do however understand the caution and reluctancy to "let go of the reigns" per se as many landlords get screwed by property managers.But at the end of the day, you have to "let go" and let someone else do it or just do it all yourself.I'd love your advice on the suggested terms given to us below:1) In AppFolio they want admin level access to their account.2) They want a standardized list for maintenance items so they know in advance what repairs would cost.3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $3006) They want tiered PM Fees based on occupancy.... for example (their example): at 90% they would pay 8% PM fees, at 70% occupancy they would pay 2% PM Fees, and at 50% occupancy we would part ways.The deal breaker in my opinion is points 4, 5 and 6.With the lack of oversight/control on maintenance we have little control over the occupancy and it kills our process and efficiency.So in a way, we are destined to fail from day 1.Also, if someone does want so much control why not just self manage.The unit count justifies hiring 1-2 full time people to run it.Otherwise, let us do our job.

Do this 4-5 times, and you’ll be set for life.

I have taken listings for 4%, 5%, 6% and even a $1500 flat fee. 

If so, maybe $45/sq foot at 900 sq foot is $40K? 

Their loan is through UWM and have confirmed that it may take closer to 45 days to close.Otherwise, the sale closes with the note as well as the deed in your company's name. 

Usually no permits or consultants needed $25-$45 per sq ftLit Rehab: includes cosmetic scope, plus updating Kitchens and baths, maybe new mill work and doors, perhaps some updating of HVAC systems or MEPS issues.

As far as the ADU goes, I'm predicting I'll be at 45-50k all said and done.

Looking at 4-5 months from initial offer to listing and I have a GC handling all the work, so my time has been just driving to check status/give input/drop off payment.

You have 45 days to identify up to 3 properties and up to 180 days to close.