Here are some of the problems:1 - My contract with the manager states that they can't spend more then $100 on repairs/expenses without my permission.

What are you spending that year if the furnace dies?

When you think you've found someone you can work with, consider flying out there and spending the day looking at properties with him/her to further build confidence that you're making the right decision.

The reason their rates are sometimes (note SOMETIMES) better is because they have several banks or mortgage brokers lowballing their good faith estimates so they don't spend the $400 for the lead in vain.

In fact, I tend to offer lower than the dollar amount I really want to spend as it gives me some room for negotiation to help the seller feel better about the deal.

I have a limited amount of time that I can spend on any forum.

In the worst cases, where pipes and wires are emebedded in walls, ceilings and underfloors the cost of renovation may make a project non-viable without complete demolition.So, spend some time with an appropriate legal advisor, check and optimise the tenant mix and ensure that utilities are in serviceable condition.

Am I right, or do you think I'm going to have to spend some $ to learn what I need to do?

I know what he's talking about.Students are sometimes assigned to spend a day withsomeone in a career that they are thinking about entering.If they think they want to be a chef, spend a day ina restaurant with a chef seeing how easy and stressfree that job is.

Unfortunately, you would lose your investment, the owner would get their land back, and the developer would be off spending your money.