If/when I do another flip, I'll get in with this guy, or a guy like him, and just partner and ride along, adding value however I can.  

While I always love the enthusiasm of young investors, I really appreciate the wisdom that comes from those few extra years in the trenches.

Greg:    First, do not get discouraged by anyone, someone else is doing it so you can, not going to be easy.If not done already I suggest to look into this:Enforce that PM uses a great website for rental screening, ones with a background check and choose the best tenants possible.Review you leases to close any pitfalls and enforce the lease to the T.Keep the units in good shape and keep extra cash reserves ( fixing + trip expenses )Tiger than normal lookup on the PM ( have second PM line up ), vacancies, unit showing costs, repairs, fees, etc,  require a once a week normal operations report and a once a month full operations report.Family, friend on virtual assistant that regularly drive by the property and reports to you, or if cash flow allows and deem beneficial you can install security cameras and remote view activity on the property, nowadays there are lots of options.Check if feasible to get a home warranty plan for the units so some pain issues are self-managed by the tenant via a phone call to the warranting companyIn which city/state is the property? 

That's a little different than buying the worst property in the best neighborhood with the idea of adding value by rehabbing, repositioning, etc.

Becuase there is a cost for even using your own money or private money, you can actually offer the seller more if its cheaper to do subject to, and give that extra to the seller.

Remember, you are creating an extra tax layer and you should speak with your tax professional about the added cost.   

I could live in a place like this but I reallt don’t need the extra space right now.

Leasing was getting run off a bad website and Google Ad words and not through other online sites.This just underscores the importance of organization and clear record keeping in buy and hold real estate.

So there’s extra liability on the GPs when allowing sophisticated investors in. 

Thank you for your time and attention and the timely response along with the extra yard to get my post back up!