If not, the initial cash flow will be the highest you will ever receive, and you will have a continuously declining standard of living.Population Size - Greater than 1 million.

Once I interviewed all the tenants, I discovered that the average tenant stay in the entire complex was about 9 months.

William Jenkins is correct that the new tenant must also meet your standards and like I said above you don't have to rent the property for the same amount if the market rate has increased.  

If you buy in a location where prices and rents are increasing below the inflation rate, your only option will be to decrease your standard of living over time.

Standard wholesale offer, did offer $5k more than asking.

Or standard 20-30% downs? 

This is the REVERSE of standard SFR and small multi-family (up to 50 units or so) management, where all funds stay in the PMC's bank account and are sent to the owner periodically, typically monthly.For larger apartment buildings iIt's normal for all rents to be deposited to the owner's bank account and the PMC be given access to this account to pay bills.Regarding your setup, it seems odd for only 8 units. 

Then if you discover it is a less than 5 star review, you can bury it by triggering all of the reviews from the successive guests all at once.

For an investment property out of state, I had a 1.5% margin on top of the 3.25% standard rates.

Think about how you discovered the management team or individual.