Hi BP,I've heard too many horror stories on property management companies that are not doing their job properly (i.e. do not provide best advice on hazards, termites, do not try to save money when it comes to minor and major fixes around the house and in general do not act as the owner proxy and serve his best interest).From one hand, for 10% (especially on low income neighborhoods) I realize (but not understand) that I can not expect property manager to take care of my house as its own.

Hey BP community, I just recently purchased a duplex in Tulsa Oklahoma and while it's in fair shape generally, there are several smaller projects around the place that need to be taken care of.

@Ryan Perrone I'd suggest you be careful with STRs around here for now.

After explaining to her the situation and requesting she sign an authorization to release information form, she told me she did not care if the bank took the house and told me to leave.

My thinking is that there is room to raise rents, perhaps screen for better tenants that take care of the place and decrease the maintenance cost and get the NOI up above $100k/yr.I would appreciate any advise that anybody has to offer whether its something I am overlooking, something I should look more into or what your thoughts are regarding moving forward with this deal or not.

What are something things my brother and I should be careful of in starting out this way?

Assuming larger capex and maintenance costs.I have access to hard money cash for a purchase and renovation of the property—about $196k of an outlay.  

Leave enough room for all of those incidentals/ unforeseen issues to be taken care of in your calculations. 

They really don't care.

For the 2% less 'return' I'd rather have liquidity and the ability to take advantage of an opportunity, and I've paid off a bunch of mortgages as I pointed out earlier.