(Marin County, CA)We have looked a Structured Sale but it does not have all the advantages of the 1031.I have cash to close.She/seller cannot find the “right” property.She is the manager of the LLC that holds title with her parents.They have not set foot on the property in almost 3 years.I live in one of the units and have managed and maintained the property for the past 6 years.Her parents are not able to manage their affairs and she handles their $$$.We have a number of serious deferred maintenance issues that she does not want to address.I would much rather buy her out than go to arbitration to force her to participate in the work for the deferred maintenance and the renovations I want to do.

Question for you, is there much difference in what you bring in by having professionals handle most of the deal vs. handling it yourself?

I would like to know how many total hours a good self manager is involved in coordinating handyman, placing ad/signs, handling emails/phone calls, verifying employement/references, showing properties, movin in walkthrrough, chasing checks and etc...

Those are usually pretty sufficient and should be fine. make sure to read carefully on the terms of the lease and if you agree with how things are handled per lease rules.

How to handle Returns, %'s, my time managing the renovation, then my time managing the property, etc......Keep in mind I am interested in buy and hold, not fix and sell.Slightly complicating this is that though I am a buy and hold guy I'm not thrilled about the idea of holding a property for several years with a relative knowing the property management issues that might arise.

Income goes into the checking account and all bills for the rentals get paid out of that account.Some states have specific laws that may dictate exactly how you handle security deposits.

Brass (or gold colored) door handles and bathroom fixtures.

I handle all the repairs because I want to make sure it's done right.

I can only handle so many channels (I actually DO have work to do from time to time!

Hi Sam,In the business we call these in "pre-list" stage as a broker/agent.Banks will either list REO directly with listing brokers or have asset management companies they contract out with that the bank gives their assets to for disposing and selling in the marketplace.They give the asset company full reign usually going by what is in the banks servicing agreement as part of the contract to handle the disposition of the assets.