I have one rental and a second that is to be on the market very soon. i plan on managing them up until i feel the work load is more than my time is worth, but i do have a question for yall.from my understanding a "typical" contract with a management company would be 10% of monthly renth and 50% the month when they have to get a new tenant. besides negotiating the rate, have yall ever heard of them charging 10% of mothly rent, but you as the owner get new tenants. in this case you would not pay 50% of rent when you get a new tenant.this would not be to cut cost so much, but maybe the owner wants to control who is in the house, but not manage the other stuff throughout the year.thanks for any input.

Write up a joint venture agreement or if LLC's are cheap in your state, set up a partnership LLC detailing in the operating agreement how the funding and payments will work.

So, I thought about doing brackets for certain investment levels ($50k,100k,200k) and then adding a load factor for their % of the total fund but these are all just guesses and arbitrary.

Another way is to split membership within the operating agreement with different classes of members, that will keep them in a passive situation as well.

They usually do not make money until they understand their clients and property operational issues.Definitely ask for references and take the time to check them out.

To me that says major leaks getting worse, or a car wash / laundromat operating out of the building. :-)Ryan, Brian may also have specific recommendations for a contractor for you.

You'll need to build relationships wherever you're operating.

Could I operate these as individual businesses that never share funds?

When the data is loaded into the system, the system spits out an eligible level the most commonly know are DU responses which are Approved Eligible (EA), and EA 1 and EA 2, where the 1 and 2 are diminishing levels of qualifying.

At some point, we all have to take the plunge, whether it's buying your first property or even if you want to be a brain surgeon you first have to operate on a cadaver or something!