The property management firms in my town run the gamut from a few large managers that do a decent job with Appfolio, communication, etc. 

...and what you put in the search bar or in your communication with your lender is "Delayed Financing"

The founder, Michael Quarles was the one who communicated with me through email I think he's a BP member as well.

Because of what we know the property appraised for in 2004 we assume the property would be in the $400k range just because of appreciation.I have been in communication with two banks regarding financing and they only want to lend based on the cash flow of the building, and based on the 400k expected value the 20k NOI is very light to support that.This brings me to my question, how should we value this property?

You might be able to find owner financing or an owner willing to carry a 2nd to pay for most or all of the 20% down on the next one.

Communication is a little lacking but responsive when I have to chase him down. 

I am following up on Sunday as I have 24 hour to inspect notice I am delivering to them@Jennifer Rysdam With the communication we have had since the notice it would appear they are complying. 

@Joe Rivera the basics like professional pictures, very detailed listing, and quick communication are some of the most important things since you do not have reviews yet.

Setting expectations is just establishing rent amounts, inspections, repairs, proper communication channels, times they can contact, what is and what is not an emergency, etc.

It'll be hard to manage the job from Jersey if the contractor isn't honest and has poor communication.