I'm also aggressively looking in the Central Florida area to acquire additional management contracts from other agencies, and was considering just gross management fees time 1-1.5x; but excluding leasing and other income that is not regular.

For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Ask for the application and screening reports like the credit report, background check and application.Check the property conditions - ask to see a copy of the lead certificate, rental license and rental inspection.

You can also check their reviews online at Google, Facebook, or Yelp.

I'll check this out. 

If someone is checking on the home 2-3 times per year, you have a better chance at catching this before it gets bad. 

I just checked online with department of health and found this article.https://doh.wa.gov/community-and-environment/wastewater-management/septic-system/caring-your-system#:~:text=If%20your%20system%20is%20only,a%20more%20stringent%20inspection%20requirement.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

We had an 8 figure LOC to buy distressed assets and sub 2  half of it completely unsecured so check book.

But I don't think it's fair to me to do a 50/50 split for someone to essentially right a check then the other party do 100% of the work and cover the working costs.