The deposit is for cleaning and maintenance AFTER the tenant vacates.

We also keep a close relationship with our clients and generally try to handle any maintenance with our crew that we have, and also help lease when its that time again.

You also need to take into consideration ongoing maintenance expenses and property management expenses, as well as expect to have some vacancy and have a reserve for that.

Does the property have maintenance issues but a good area?

He is a hands on guy who would do the maintenance and networking with local experts.

The boat slips are rented seasonally, paid up front, and currently generates $2,000/month (when averaged over the year).Total monthly income: $11,250 ($135,000/year)Expenses run very low, from what we can tell, listed annual expense:RE Taxes :12,000Insurance: $6,500Water + Common Electric: $3,000 (heat and hot water is paid by tenant)Maintenance + Repairs: $2,000Management: $10,000If we do 40% down ($700,000) and finance $1,050,000 @ 4% over 15 years: $93,300.Add for vacancy, misc, etc...  

I find they could be covering up an unauthorized resident, property condition, or problem they fear they may be charged for......So it can compound a problem if you neglect these routine peeks in a unit.

You should be receiving maintenance request via email and you should do the work instead of leaving it to him.  

Bottom line, I'm looking for a state where I can have excellent property management (not me) and CAPs of 10+ and low maintenance multi-family 2-4 unit properties. 

I'm looking at starting a maintenance &Cleaning company to run parallel with my Property Management company.