Hope this helps https://www.ftc.gov/sites/default/files/documents/one-stops/...

Monthly owner statements as well as keeping track of expenses is part of the PMS.

The goal is to be close enough with a calculator to make an informed decision, based on your risk tolerance and capital reserves (Cash in the bank for variances in the bills or emergencies).Regarding my comment on off-market properties - I'm referring to the buyer who wants to find a "deal" through a wholesaler, but does not think to use a real estate agent/broker, and is either using cash or owner-financing.

@Britney DearEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Ok thank you for all the great info, Just bought the building and they were on third floor and the rent was more than half of the market rents because they are family to the old owners, they are moving to first because one of the occupants is elderly.

I have tried to bring in brokers in the past for non owner occupied/ investment and commercial lending but nobody would ever finish the home work. 

If you are in the City of Cincinnati, go to the historic conservation board and download some presentation packets for past projects like yours (worth the time it will take to go through them) and see which firms are doing them.Here is the site where you can look at other developers packets:https://www.cincinnati-oh.gov/planning/historic-conservation...

Your post is confusing because an HOA cannot make a modification to a common element and then charge 1 owner for that *UNLESS* that owner or their tenants damaged the property to begin with.

You'll live in a construction site for a few months but it's worth it when your young.

The difficulty is in finding the "quality" property manager - the one who represent you the owner not the tenants.