This is wrong question to begin with.The right question: do you know any good fund manager that has proven track record with 15-20IRR in the last ten year ?

If it's within an HOA, call the HOA's property management company and ask them if they know any of the history of the lot and if they see any constraints to building it and what steps it would take with them to build on it in conformance with their CC&R's.

Did you wind up using one of the above property managers?

We are looking for a structure that will permit us to easily raise money without complicating the management level.Curious to know what people recommend for jurisdiction and structure for such an entity.Thanks in advance for your help!

Anyone else have any recommendations on best way to manage this? 

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $260,000

Cash invested: $5,000

This was a short term lease option agreement to help the original owner get back on tr...

When he called me this past time, he was in the bank and while I was on the phone, politely asked the manager to speak with me so I could get more information as to what was going on.

Nobody has a crystal ball but Grays Ferry is the most depressed of the markets you listed and therefore could theoretically appreciate the most if the neighborhood turns.

I find that all of our tenants when we say we don't use property management they jump for joy and say their prior landlord/property management was terrible to work with.I just assumed that everywhere has bad landlords who aren't willing to do the right thing for their tenants, which ultimately leads to happier tenants, longer leases and more $$ for us.

We own and manage a couple of small multifamily homes.