When any repairs or work are done, I take the invoice and classify it in my book keeping software Quick Books, so I can get an idea how much is being spent on each property and the overall performance of each property.

I also HIGHLY suggest that you have an idea of what your buyers will pay or a specific buyer in mind before you lock up a deal so you don't have the stress of trying to find a buyer later and risk pissing off your sell by not performing.

Tell us about the property:How did you decide on tasks and delegation?

Good credit is important, but with only one year of history, it is hard to predict how he will perform long term.

I have purchased owner finance deals with higher percentages (7-10%), performed renovations and refinanced to a much lower rate after a few months.

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

If they are passive and they are profiting based on performance, then you are dealing with securities and should set it up as a syndication, for both legal and tax purposes.

Are you paid out a certain amount based on the capital provided to the 'flipper'.Are you paid a fixed fee per flip that he does regardless of how well the flip performs?

A lot of cities have some organizations to help local people find place to live.Reach out to local churches/hospital/performing center/university if there are any there.

I imagine its the same for most managers that are tasked with terminating employees.