With current market conditions, it involves putting hundreds of opportunities through the funnel, often through direct to owner marketing or extensive broker relationships.3rd party PM is less about ACTIVE vs PASSIVE than it is about PROFITABLE vs UNPROFITABLE. 

Collect and track information on leads obtained from drip campaigns and conversations in individual lead file.Route inbound calls and record calls in the lead’s file.Automatically populate lead database with information from website contact form / squeeze page and initiate drip campaign.

We have started threatening to send to collections during occupancy if unpaid by X date and have had success in receiving the payment.I don't think an increase as you suggest would fly. 

Grow organically, vertical integration.Partner with local RE brokers to form aboveStart hanging out every morning for at least a week at local lumberyard/HVAC/plumbing/electrical supply house and collect cards in order to build a list of go to vendorsAsk every SFR and MFR investor who they use for every service you need Create a mastermind to share best practice, vendors, group discounts etc for investorsRaise rents to market immediately and hope the long term tenants move out so you can rehab and raise rentsSell "use master lease" to another investor and continue to make money from cash flow and possible interest from eventual owner financeNetwork, Network, Network,Network,Network,https://www.pjstar.com/news/20170117/peoria-landlords-to-form-group-100-attend-first-meetinghttps://principleproperty.net/https://www.phoenixpropertymanagementinc.com/peoria-property-management

I questions the instant equity because at its base.. the true value is willing buyer willing seller with everything being equal.. however based on your numbers above folks would be jumping at those.. as long as they are not ghetto war zone areas and rents can be reliably collected.. 

Would love to learn from your collective experience as my wife and I are searching for our first flip opportunity.

Everything is in line with the closing with all parties involved so it's just a matter of the day arriving.In this case, would you all list the property online and start collecting applications making it clear that move in wouldn't be for four weeks?

Well I’m just getting started out but I won’t  be living there I wasn’t thinking of hiring a pm to collect rent and etc btw thank you for insight frank it’s greatly appreciated l!!

That said, I am looking for a partner from Indianapolis, IN 46204 to co invest a rental property in Indianapolis with me, so that my partner can mange the property for us on the parts that I cannot do myself like showing etc while I can manage the rest such as drafting rental agreements, rent collection, "pay or vacate" legal actions etc. 

We have done extensive work on two of the properties and enjoyed the process but both properties are well out of the area in which we live so Using those contractors is not possible.