He could form a union and manage them and get even richer!!!

Use a pro forma.

You can count on overstated pro-forma returns.  

I get a little nervous looking at pro forma numbers.  

Hi Bruce, go to the local HUD housing office and they will give you a change of agent/owner form as well as a direct deposit form and W-9 (you will be issued a 1099 at the end of the year). 

So sorry all you awesome PM's out there who are happy as a PM... to me, that's the worst part of RE investing, and the first thing I put in my pro forma for properties is making sure I can FIND a good PM and of course that the property will support paying one well. 

@Paul De Luca okay yep; you’ll get that form a system like that because ‘applicants’ will pay the fee one time and send out as many as possible since they only have to pay once.

Have you conducted a pro forma analysis to determine feasibility and financial performance?

If you're interested in seeing how our units pencil out, we'd be happy to show you a pro forma.

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.