It depends on your market and timing. 

They seem to have a good business model and one of the owners is an investor himself which is definitely a plus, but they charge a leasing fee (to find and get a qualified tenant into the property) equal to 1 month of rent, which comes out to an additional 4%-8% on top of the monthly 10% maintenance/management fee depending on how long the tenant stays.

I have a 52 unit townhome development in Surprise, AZ that we've developed the land and looking to either sell or partner with a builder.Be sure that this property falls under the criteria needed to actualize the tax benefits. 

It depends on the number of Units, Residential or Commercial, Apartment Complex or mix of Single Family and Multifamily.Under 25 unit  - Tenant Cloud, RentechUnder 100 - Then Doorloop/Buildium.100+ - AppFolio, Yardi, Rent Manager.Apartment Management : Yardi seems to be wildly usedSingle Family ( Mixed ) - AppFolio seems to be popularRent manager has a good customer support team.

I'm looking at a gains amount of 40K after closing costs, realtor fees, and tax payback.

AirDNA has great data to give you a sense of average annual revenue depending on # of bedrooms. 

You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.

My worry is that the property might fall into probate or tax auction once he passes and someone who knows someone will get the deal under contract before it reaches public offering.There is a real estate agent in the area that gets about 85% of all the listings in the micro-market, so she is farming these properties constantly. 

Look at property tax rates and insurance rates and how much the taxes can increase.  

Faster Turnaround : Depending on how much work needs to be done, the project could be finished quickly, allowing for a faster return on investment.3.