Consequently, the attributed value of the land was completely wrong, you wouldn't be able to build on it, and now you'd have the rehab one of the homes that was borderline fit for a bulldozer.  

Also looking for a recommendation for a property manager. I

Until the last 12 months or so (basically when we got the new city manager), I don't ever remember seeing any construction jobsites that had been shut down (talking residential & small MF).In the last 6-12 months we have seen a dozen or so stop work order signs on various houses.

. $200/mo without paying your self for being a property manager is not a good deal!

Hey Dan Schwartz - being happy with your property manager is a mindset :)These guys are good at collecting money and sending me the rents.

Your expenses sound more directly attributable to the acquisition of the property itself.

As for a property manager, I know a smaller local property manager I could put you in touch with.

If your property manager is CRUSHING the things listed above, then they have the right to look at a pricing strategy.  

They all say they are great on the phone, but  so did my current manager.   I

The single greatest attribute of the property is your ability to divide into to units.