That's why you need the HOA, because they implement your private CC&Rs which allow for the greater density...so ANY townhouse/condo you buy you should have anticipated that there were likely some shared services...if there weren't then you wouldn't need the HOA...

That is passive to manage and much less cost to implement. 

NY is still great but landlords need to:- proceed with caution- read Brandon Turner's books - implement strict requirements and systems for tenant screening and property management

I also implemented a bonus structure this year that is focused on growth of the company.

I'm a local investor and Realtor here in Jax and see numerous successful strategies being implemented. 

Late fee amounts and timing are often affected by state law, so be wary of implementing the answer someone gives you.As far as vacancy rate, 5%. 

Implement a Mgmt strategy? 

You could easily manage a significant volume through a free Google Voice number and an email address.Considering that most residents lean towards email and text rather than phone calls, you can periodically check those messages or any voicemails left for you.As your business expands, you might want to consider implementing an efficient property management software.

Question on reply to another user about: What actually makes a market better or worse to try and implement the BRRRR strategy.

We are now investing in an advanced CRM that will interface with our PM software for even more customization and automation - including hiring a specific expert to implement it for us.It will be a painful learning curve - short-term pain, for long-term gain.Suggest you make your list as you learn on the fly about what various softwares offer.Check these out: Buildium, Doorloop, Appfolio and Rentvine.Take your time, because switching is another painful task:(