Also, the properties they manage, I am told are typically not well maintained. 

Was there a PPM as part of this offering?

We invest in areas that are typically right next to the ones that have already "up and come."  

However, if it’s only one or two months, I’d highly recommend offering cash for keys just to get the tenant out. 

Typically what is known is done at closing but trued-up later.If your PSA specifies any credits for non-ready units, that will offset the other costs.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I am an investor in Memphis and we have several groups on FB and I see posts that offer these services all the time.

There are lenders who offer construction loans for investment properties for exactly the scenario you're describing.

I envision offering the full gambit of stay options: short, medium, and long term rentals.

- What are the typical/favorite contingencies do you add for four-plex property?