You need to leave a reserve knowing that. 

So my cousin was telling he knows someone selling a house for $500.00. The home has fire damage so it has been gutted will need new wiring all throughout. A tree feel on the garage garage is still standing though. As ...

We've butt heads a few times, but I leave them to their job.  

If they leave I would like to charge more so that is why I am asking about your experience and location.

Some investors prefer to have no involvement in their properties and would leave their PM 100% in control.

If you’re unsure based on your states requirements then just leave the rental agreement in your name.  

Then you’re just looking at whatever documentation and state laws as to whether you need to provide 30/60 days notice of non-renewal, or that same time to either leave or sign this new lease.

If you have a preapproved HELOC never use it leave it alone pay with your other funds(e.g. cash). 

Train of thought is if I go about it this way then it would gaurentee a return because Im not buying the property for them Im only doing the repairs which would leave a 30000 dollar profit.

In my market, new groups came in and built some sophisticated car washes, leaving most of the self car washes to go out of business.