If you are located in a stable market with no population loss predicted in the next decade (us census has very detailed and very educated forecasting models for most zip codes)then each month your tenant pays down your mortgage will count as money in your pocket.

Hi @Arthur Zaragoza - we live & invest in Kansas City using precisely the model you describe.  70 to 75% LTV is what you will see for investment properties, and we have found banks that will do loans for as little as 50k (would probably need to appraise for at least 72k).  

Not giving advice one way or the other, but to my knowledge--based on my experiences--be careful about this model; someone else please correct me if I'm wrong.  

Obviously I have no expertise in this arena.. so my next step is to find an attorney who specializes in commercial real estate with development & retail experience?..

Depending on what kind of architecture practice you want to have, it could help your expertise as well as your own finances.  

Flat fee model, which I think is great for this strong rental market. [email protected]

Its working for now but time will tell if we keep this model or mix in more contractors if this doesn't make sense cost wise in the future.  

The only rule of thumb that I use is one that is built by my model for the area that I am evaluating at the time. 

The buy and hold and the buy and rehab models are very different, especially when talking about tax computations. 

i just dont see the 'hesitation' to check up on your PM's work periodically. they are a contractor and ur agent which you do not SUPERVISE on a daily basis but likewise any owner who does not evaluate the service of their PM is likely to be lumpable with the slew of slumlords out there who just care about the $ not their tenants.and what better, simple way to check up on ur PM's work by askin a few questions of 1 model tenant?!