The property manager will make or break your investment, no contest. 

Clearly, you are breaking the law.

Make enough money to roughly break even, c.

I know everyone wants this, but I may be willing to pay a little more and I do not necessarily need guaranteed appreciation.If the deal does not make perfect sense then I will stick to my current strategy of buying locally, trying to break even and counting on appreciation and mortgage pay down. 

Make enough money to roughly break even, c.

In theory, they should gain full divesture within 6 months of request to divest.Like most funds, the investors will invest into an LLC that will be managed by another entity.Questions:What body of regulation would this fall under?

What does your lease say about what happens if the tenant breaks the lease.THAT'S the defining document, not this lawyer drafted agreement.

If a tenant pays the rent in full, late without the late fee, the landlord would be breaking the law if he then added that unpaid late fee to the following month's rent and called it "rent", and designated that month's rent as not completely paid because of the previous month's late fee.  

The property breaks down like this:We still owe about $55kNOI $15kApprox value @ 9% CAP $165kApprox. $110k in equity copmbined or $55k eachThat NOI is subtracting the mortgage payments.

It breaks every deal that comes his way and I mean EVERY deal for 34 weeks.