We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

I will PM you my rep -- they are in Indianapolis, but if they don't cover your territory, I am sure they can send you contact info for someone. 

I'd look at the closing docs for something related to the pro-ration of expenses etc and see if you have anything there that could be a clause you point to for them to cover those payments. 

It's been covered extensively. 

It's amazing what you find covered up in these properties.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Our cleaning fee covers professional clean, laundry service, and consumables. 

It will cut down on the fake accounts created to promote certain individuals, markets etc.

There is loans that cover the purchase and rehab so you could explore that.