I am wondering if he thought that the house sale did not obligate him to the lease and thought he could renegotiate it. 

If the PM doesn't have the security deposit it becomes difficult for them to legally fulfill their obligations.

All of this is to say, Ive been investing time and resources into my financial IQ as “Rich Dad” would put it and found BP.

Your client is financially incentivized to minimize your slice of the deal so that he can maximize his own.

Hi Bob,When purchasing apartments/multifamily, there are 10 main reports you want to obtain during the due diligence phase (between contract and close):Financial document auditInternal property condition assessmentMarket surveyLease auditUnit walk reportSite surveyProperty condition assessmentenvironmental site assessmentAppraisalGreen reportMuch more involved than due diligence on a SFR.

Not necessarily financially, but deals are tough to come by these days.

Yet, no solid "financial" results.

I would participate in the project without financial part - providing help and doing different tasks just to watch the process and learn.

I don't set this money aside like I do for Capex, but I do budget for it when I'm calculating the financials on a property.  

The property management activities will not be a service to charge me for but an obligation of their joint venture agreement with me.