This includes operating your heating and air-conditioning system as appropriate to reduce humidity, using appropriate ventilation, limiting evaporation of water, promptly removing any visible mold, and immediately reporting to us any leaks or other water intrusion into your apartment or any visible mold that you cannot remove.

So if any of you Rockstars out there want to throw a newbie a bone, I'm looking for that super talented agent you previously worked with that seem a cut above the rest operating in the Burlington County area of New Jersey.

Work your way up in quantity that will ultimately allow other people budgeted and paid for Property Management Company running the daily operations and you are responsible to manage the management company without having to come out of your own pocket.I have heard that it takes about 30 units before you can afford a management company as a regular expense that property will pay for. 

Here is the info:Tenanted duplex with 2 2br/1ba units, both tenanted and renting for $600 each.Financing is via private loan at 4% interest only payments and final balloon payment at end of term (5 or 10 years, tbd)Asking price : 57,900 ***note: following numbers are assuming the seller's asking price, which I would NOT offer***Est'd ARV: 60,000Est'd rehab cost: 15,240Closing/Legal cost : 1,500Down Payment : 17,000Total cost of project : 70,400Total borrowed amount : 53,400Total Gross income : 15,880Total Expenses  : 9,054Net Operating Income : 5,478Annual Debt Service : 2,136Cash Flow : 3,342Even with the over-market asking price, this property is already cash flowing.

That's OK I can live with that.So its a very clean operation, and the tax bill is very manageable.

How has this helped things like your operating expense, net profit, tenant retention vs. competition, etc.?

seems that Chicago has some of that going around the Equity build charges by the SEC sound similar in nature.. that's one tough city to operate in..

Some of our canvassing has been to put in a dance/fitness user.We have one tenant whose lease states that the "Demised Premises shall be used solely for retail purposes to operate a casual dining restaurant/cafe".This tenant is new to the shopping center as of a few months prior to our taking ownership.

:)  I am so used to dealing with conventional lenders I think I've been assuming local banks operate just as inflexibly as the big ones.   

Where a larger operation will look at the small deals as a pool and have a set of systems, and people in place to deal with them.