A simple baseline plan might’ve steered him toward properties with more reliable maintenace histories or a stronger neighborhood profile, saving him a lot of sweat.

How are values changing compared to the rest of the local market? 

I’m also diving into multifamily and would love to compare notes or explore how we can navigate these opportunities together!”

I am trying to get one of mine in the Luxe category and it has been futile - especially when I compare my property to the few Luxe ones in my locale.  

I can have my clients give me feed back if you want to send me the address via PMAlso I got stuck with a few props there when my first balt client imploded ( of course i was in them at wholesale levels) but I exited with ASHLAND auctions and we recouped generally speaking.Also Section 8 there pays a very large amount compared to most markets if your forced to keep it I would go that route you can get 1600  to 2k on section 8. 

What is occupancy and rate and how does that compare to your competition? 

Then your heirs can inherit your position and keep it going every 10 years.....etc....as compared to the MIN which is due in 30 years.For example here are a few recent CRE deferred sales trust deals:- Owner who sold a $34M apartment complex and moved his funds into a Deferred Sales Trust. - $18M Business Sales of Veterinarians who sold multiple practices in Virginia and Indiana.Another example, was for a couple who sold their primary residence for $26M in Newport Beach defer $6M in capital gains tax.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Correct - Track all your income and expenses.The bookkeeping will determine whether you are profitable or not.it will also be good to compare from year to year your income / expenses to see what expenses you can potentially try to limit.I.E.

I am currently in Hong Kong, and there is no way I can or will invest here as home prices compared to rent yields just don't make sense according to any of my calculations.