Would love to have an extra pair of eyes look this over. 

The property has two doors, a 3/1 Single Family House, with a 2/1 Apartment that sits over a 2 car garage and extra storage unit.

The property has two doors, a 3/1 Single Family House, with a 2/1 Apartment that sits over a 2 car garage and extra storage unit.

Sorry, I was saying when the lease ends raise it again, raise it “a lot” to the point where the new extra rent will make it worth it to you or will pay for the PM so you don’t have to deal with it.

We don't charge them extra unless the owner is paying utilities at the property.

You should speak to your partner and tell him that if he wants to do extra for the tenant then it comes from his money, not yours and whomever else you’re partnered with.

There might be a 10% chance an escrow company could hold the money for 1 or 2 big repairs until a licensed and bonded company submitted bills for the repairs to be reimbursed and the extra returned to the seller.

The extra cash infusion would def help lower my own capital expenses for purchase and renovating.

#2 What I see is about 30% fee, that's the tough part...if you hit $3000/month and loose 30% of that, you're back down to LTR rate...plus you probably have extra expenses, like furnishings, utilities, consumables, lawn care, hot tub.   

But I am leaning towards properties that break even and have high appreciation so that i don't have extra income when I am in a high tax bracket here in California.I am looking for suggestions on what is the best strategy.1. get a property locally in A class neighborhood costing around $600,000 to 800,000 and hold long term for appreciation (no cashflow)2. work with a turnkey provider and let them handle the portfolio3. work with a real estate agent, property manager and invest out of state and look for cash-flow and appreciation (more work)