Don,Just have an operating account for the monthly rent and repairs, separate from that, do a savings account and put your funds in there for capx

There is variation in the quality and consistency of inspectors, as with any large operation.

If you want the work to be quality, then there are better actual small single-man operations that are cost effective, but a bit more $.

Without taking too much of your time, let's jump right in.Rent comparables, using the lower-mid end of the market:1/1 - $14753/2 - $2500Mortgage 30YF @ 4.359%, 14% downTriplex- 3/2 & 1/1 & 1/1Asking Price 519,000EGI65,400 - vacancy (5%) = 62,130Yearly Operating ExpensesTaxes (1.15%) - 7,785insurance - 1500 repairs (5%)- 3270CapEx (10%) - 6540PM (10%) - 6540Utilities - 1500Total Expenses- 27,135NOI= 34,99534,995 - 27,384 (mortgage- refer above) = 7,611$$$634$$$ CASH FLOW per month, or over $200 per door for this multi in LOS ANGELES, CALIFORNIA CA!!

The most positive thing you should do is to learn how to save more, Partnership types and forming, raising funds that can help you make the down payments, and buying apartment complexes with at least 32 units so you van pay for property management to take care of the daily operations. 

As for the other tenant, we plan on having them sign our lease (they have been there for years, and are operating on a month-month status from the old owners lease) and also add that cost into their new lease with us.

Gm I am a looking to buy a mixed use building front has a no operational barbershop I am a barbershop owner.

FYI, I only operate in the state of Iowa.

What kind of services, operations, reports, bookkeeping is included in the PM fee? 

I create my operations manual and flow for all my processes with mind mapping.