Because of these factors, I'm not really in a position to buy any of these buildings at least in the near term. 

Now, if I had 5 people I go to regularly and I always get 3 bids for every job I don’t necessarily take the lowest bid, it depends on several factors.

My wife and I just recently bought "our forever" home.

And congratulations on venturing out and starting your own management company.Typically, this will range based on several factors - a couple of which will be: 1) your vendor relationships and, 2) your property management software.

Factor in any deferred maintenance you may have to do (i.e. plumbing, landscaping, paving road, etc).

Where experience will be a bigger factor would be on short term rehab, bridge, ground up deals or on perm loans for pure commercial properties (5+MF or other commercial types).

@Jason DiClemente this is more hypothetical, but I see where I messed up there not factoring the 70% LTV. 

I am still waiting for an insurance quote to have all my numbers to completely analyze the deal.. but I have the general picture down its looking like after everything I would have around a 25K profit.Pro's in my mind=-It's a complete renovation so I feel like that would cut out the "unforeseen issues" factor.- I am very confident in my ARV estimate because I just bought a home on the same street a few houses down- I will be a real estate agent by the time I would go to sell this house so I could save money/build my network etc..- The home would likely not be hard to rent, it's in a great neighborhoodCon's in my mind= -Its a huge project and I've never handled a straight up flip project let alone one this big.

To have a good PM relationship I would think the most important factor is making sure your priorities as the owner align well with the PMs priorities for how they handle your properties.

There is another factor that contributed to the class A and B rental stability in Las Vegas: eviction laws.Eviction LawsIncentives are strong determiners of how people will behave.