I agree with what was stated above, you need to do your own inspection and assessment to be sure of the numbers.

My question is: How do you assess the late fees?

Hey Everyone,   I am looking to get into real estate investing and I'm trying to learn as much as possible when it comes to assessing a property.

Some better than others, certainly, but continue to educate and assess other options.A couple options I see off the bat:1.

However, I would say that your PM is not a general contractor but which needs to hire a qualified and licensed contractor to assess your property.

I would not use the owner to manage your units, it is clearly a conflict of interest as his units will be priority.To increase cash flow and equity ( assuming your units can be assessed without regard of the other units no belonging to you. 2 options: get a professional management company or hire a person smart enough to take the task, teach them what you expect and tie the performance of the asset to their compensationie: filling vacancies, lease renewals, and property accounting, repairs maintenance etc.

Goood job on assessing the age on your own .Hopefully the deal is still worth it to you. 

Hey allI’d like to try and build a comprehensive list of objections and rebuttals.

It's also a lot easier to assess which neighborhoods are worthy of investing in.

Most of their assessment will be based on your tax returns, bring 2 years tax returns.