Those areas cash flow, so if you are uncomfortable hire a PM.

I am hiring contractors.

PM fee, and i would hire a property manager for college rentals. you are looking at about 10% so another 150 / month. so your cash is now 350 - 550. that's the only problem with condos, the HOA fee's, they usually eat up some of your profit. you would have had to hire landscaper and garbage removal, but it wouldn't cost you the same 260, probably 150. what about taxes ?

Details:*Willing to spend ~$180k; Prepared to put 20% down on a Grand Rapids rental property*Not seeking a fixer*Will need to hire a property management company Goals: The obvious: passive incomeDuplex, triplex or single family w guest unitPurchase a home with tenants already occupying and generating rental income Top-of-mind concerns:*Winters in MI wear and tear on roof, pipes*Cost of property management, costs to heatTenant selection, How-to from Los Angeles to MI*Offer / escrow process How-to from Los Angeles to MI

If you need a detailed written bid, I can do that also for a small fee which will be credited back if you hire us. 

I am assuming 26% for expences that I mentioned in my previous post, I may be off but I don't think I am too far off.Unless I do my own maintenance and property management I don't see how the numbers work, even if I can pull that off for now then the properties number won't work in future as I expand and want to hire management as the cash flow will be negative.

Did you hire a PM?  

If you only want help to get the tenant in place, then yes, you can hire an agent to lease. 

I'm free for the summer (May through August), so hopefully I'll have the opportunity to shadow at least one investor (first-timer or expert).Also, I have included the option of hiring me as an assistant, if needed, so it can be a mutually beneficial relationship.

I've been somewhat successful in prepping an apartment, hiring cleaners, maximizing profits per sq. feet (which is always tricky).