@Noam AdlerUnfortunately the biggest challenge in property management is communication with owners and tenants and vendors as well as the property management company not having proper policies and procedures and structure.Very similar to you I started a property management company because I could not find anybody to manage my own portfolio of homesOne thing I would suggest you want to learn and be very aware of is that you are opening a business which is one of the highest regulated in the real estate industry with the most lawsuit involved take the time to educate yourself regarding all the IRS local property code as well as real estate law and accounting.create the proper business structure and organization chart ,mission ,vision ,culture before you start managing even one doorUnderstanding that you want to ask people what they want but you also have to remember that you were running a business that needs to be a profitable business that also keeps owners out of lawsuits as well as yourself.I would also suggest that you make sure you have enough capital to fund your business to be able to invest in things such as software and other things that will make your business run more efficiently

@Farris Roach III @Casey Wheeler I've used them for a couple years now to purchase multiple turnkey homes, and generally I'm very satisfied with their service, communication and quality of homes. 

.), linens (towels, sheets, comforters - they need to be thrown out every 3-12 months), Lawn care - not just mow and blow, but garden beds tooPest control - 80/qtr furniture - it doesn't last forever.Maintenance - normal + changing light bulbs, fixing furniture, loose doorknobs, etc.Administrative software - dynamic pricing engine, guest communication system Hosting fees - this is not a passive model.

Communication was difficult which in turn caused closings get pushed back etc costing everyone money.

His title company is awesome - they even have their own app (Title Leap) where you can track all your deals, important deadlines, and see all the communication (to and from the title company).

It costs me $1000 a year for her services.Outside of that she passes all labor onto our maintenance guy that handles the actual work.My challenge is if the friend of the family gets tired of it or doesn't need the money I will struggle to find a replacement and also, since I am sharing my maintenance guy with 30 other property owners there can be priority constraints.With 5-6 owners and a pool of 100 properties, to begin with, my hope is we can create a heavily process driven company that is able to keep several contractors busy full time or almost full time.We would focus on tenant communication, maintenance, filling vacant units.  

It tends to make potential buyers uneasy when tenants are unwilling to cooperate, and I've found that simply being up front with them almost guarantees smooth communication and cooperation between all parties.

Communicating deal details to outside investors has been a journey to get right for me.  :-)PM me if you'd like and I'll share the Google Sheet template if you'd like to copy and customize for your use.

Could net you the experience of operating the unit, decisions that need to be made unless there is a vote process (you would present options prior to any vote taken place), if there is a property manager you have to communicate with them on a weekly basis (sometimes daily pending the project and business plan).

This seems like the logical first option, has your client communicated with the lender where he's at with the project, and asked for an extension?