Jannelle Nevels once you get possession of the property, check the plumbing, chances are there is a leak somewhere.Also assuming you read the Property Condition Report, which can give you a very high level idea of the condition.Did you get HUDs title insurance or your own?

Check to see if the rents they are currently collecting are above/below market average and could these be raised.Some places to compare rents for that area are rentometer.com, zillow.com, craigslist.org.How much it'll cost to bring each unit up to rental-able condition.

Most times the properties are in decent condition, and of course the bank wants as close to FMV as possible.  

afterall who knows more about the performance, condition and track record of a property than the PM. who has been managing it the past several years??

Generally you they have a topic with a speaker or panel (economy, current conditions, out of state buying, private money, etc) and the agenda is something like 6-7 networking, 7-8 speaker, 8-9 networking. 

Rent increase about 5-8% per year, depending on market condition.

What I dont want to have to do is jump through some local government hoops on inspection, rental amount, lease conditions and evictions.

they know they're getting a deal and will stay a long, long time...I'm sure there are some PMs that care more than others, but I'd just be another account.My rents are very fair, my tenants are long term, we address each other by our first names, they know where I live.I've got to believe my turn over would be much higher with a PM, and my building's condition would go downhill.If I could no longer care for my properties, I'd sell and increase my financial holdings.Respectfully,Arnie

This gave us a good idea as to the condition of the home.

Depending on the condition and location you can easily bring the 1600 you mention.