Them not being responsive is another problem and should absolutely be addressed with the broker/owner of the company.From your comments you definitely do not need to be managing this yourself but think twice before letting others convince you that the PM is the root of all your problems.To answer your questions:Leases run with the land meaning the same lease stays in effect no matter whose name is listed as the landlord between management transfers or even a sale.

Hi All, I have been looking for my first multifamily deal, after listening to multiple BP podcasts I am convinced that the only way to find pocket listings is through brokers, but I am not sure how to approach one without any deals under my belt. 

**Not every broker needs to see this before taking a meeting with you but many brokers will not take you out on appointments until you've been pre-approved by an accredited lender.Preferences: let the broker know what property type and target area you're considering and WHY.

I am trying to start a acquisitions team including lenders, brokers, partners, and investors.

You would do better by developing a ongoing relationship with a mortgage broker rather than a specific lender.

@Jared Carpenter Is your IRR based on best-case scenario broker math?

You will need to do your own due diligence when figuring income and expenses and should get what is expected off of that.In Wichita we haven’t had a commercial information exchange (CIE - the commercial version of an MLS) so loopnet and broker to broker info exchange is how business has been done.

So the broker said let me tell you the whole story then.

Check on Loopnet in your area to see if the price is inline with what others are asking for the same class, per foot, NNN or not, etc.It's definitely harder than a SFR but doable.Send off an email blast to 5-10 long time commercial agents/brokers in the area and ask their opinion on what it should rent for and see if several of them key in on the same close range.

If you can do 4-5% down payment and have a decent credit score, most local lenders (mortgage brokers, credit unions, local banks) will be able to offer you a way better (overall) deal than an FHA loan.