We are under contract for 152 units poised for a light reposition of the asset in Yuma, Az.  90% occupancy going in.  

Part of our california broker rules is that we are not allowed to discuss pricing, but I can give my recommendation to have a very detailed mgmt agreement in place with your owners  who takes care of Insurance payments, claims, repairs, tenant issues, HOA violations,  When do you pay the owners> Do you keep a reserve from them to pay for repairs?

Although in our line of work we are very equity heavy compared to income properties which can be leveraged 75% these days ??? 

We are buying a house and closing soon.

Then use that to decide the ebb and flow and look where on that cycle we are and what it is likely to do. 

We are taking your advice!

We are currently waiting for TOPAs to be signed, which has been going on for almost a month.

It is not on the market, she does not have a mortgage, we are talking with the family at this point. 

We purchased two single family homes in Florida, where we are originally from.

I will be down there for closing to do some basic work and then back down there once the contractor completes the rehab we are doing, at which point I could take pictures and list the property on postlets.