Every week he has given us updates that collections have been in the low to mid 90% range, and have overall been pretty good. 

I have heard of Property Management fees, ranging from 6-8% in Podcasts. 

Some people have a hard time managing their money, and a large lump sum will burn a hole in their pocket quickly.I have had tenants that were not meeting the W2 income requirement, but had large savings and/or brokerage accounts that were quite sufficient to cover the rent, and it was also showing good money management skills.

East side is mainly single family, but buying in will be more like 600k range now a days. 

It seems like it might be best to find that middle 'sweet spot' and go with the median level of finish then in your case (sounds like not wanting to invest a lot to update, and want to keep cash flow at max.)If I were to run comps and see on the high end of area rentals it meant all new countertops, appliances (high end), hard wood/laminate, kitchen cabinets etc and on the low end it meant more of an 'apartment level' finish - I personally would go for the middle road to this and maybe choose to refinish countertops, refinish kitchen cabinets and go strictly mid-range on appliances (I would pick up the extend warranties personally).In hitting the kitchen and baths, getting some fresh paint up and addressing flooring- I would know the heavy 'where the eyes are drawn to' items were checked off my list, take it all for expenses come tax time and be pretty happy to know I was right in the middle zone for the area- I wouldn't have the lowest quality of renter pool in the area, or be worried about overpricing myself out of the competition on the high end in my mind. 

Very satisfied with the work.They were the least expensive quote at 12k, I received 6 quotes total. 2 said they outright didn't want the job and the additional quotes ranged form 18k to 25k.- All in price was 14k.

What price range are you looking at?

I swapped the sign for a hand written "Se alquila" (for rent in Spanish) written in Sharpie, and my phone rang off the hook non-stop.

I swapped the sign for a hand written "Se alquila" (for rent in Spanish) written in Sharpie, and my phone rang off the hook non-stop.

There are places for rent in their price range but not in the location they want.