Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

@David Cruice , in the process of buying the property, the OPRA docs indicated that the septic system hadn't been replaced in the prior 60ish years and was rated for 3 bedrooms (not 6 that come with the property).

Rents are good compared to home prices (1% rule is easy to find). 

Simply compare payments and see which is cheaper.

Our spaces have leased up quickly and easily via word-of-mouth/social media/networking to date, but they’ve also been smaller, less expensive, rehabbed spaces and very comparable to everything else on our few block long stretch of commercial storefronts.

I would think your real estate attorney would be able to make the case of possession for 15 years for the prior owner before you purchased the property. 

Ideally 3-6 months is the best comparable but if nothing has sold in your area for that long, you can obviously look further back.

We have an excellent relationship with the landlord - he is a retiring military officer and lived in the home for 10 years prior to us moving in.

., the court found that in determining unconscionability, the trial judge may consider: 1) the amount of the proposed rent increase; 2) the landlord’s expenses and profitability; 3) how the existing and proposed rent compare to rents charged at similar rental properties in the geographic area; 4) the relative bargaining position of the parties; and 5) based on the judge’s general knowledge, whether the rent increase would shock the conscience of a reasonable person.

This is the short hand way of how lenders underwrite MF so you should too.Figure out the average cap rate for the area and compare if you are over paying or found a good deal.