But need a fair amount of work.

Outwardly I didn't see any major issues, but I thought if a house is 203K or cash only, normally there is something fairly major wrong with it to where it won't qualify for a standard mortgage.I asked the agent about it, and he just said something generic about the 203K loan helping to pay for repairs, and that in this case he thought it was just for replacing the carpet.

Can anyone recommend a good, fairly priced management company in the greater-Phoenix area?

As for worker's comp, they may not need it if there are no employees.The work you listed seems fairly straightforward and should be done in a day, so the insurance stuff will hopefully not be a big deal in this case.

We are now at the point where we need a good recommendation for an affordable property management company that communicates properly with an out of state landlord and will not take advantage of that situation.Thanks in advance for any help.Brian Rhodes

She has indicated that at the very least she is not a good communicator, and if her business model is retail-centric, that won't work either.

Also, because you are fairly new with limited experience, I would focus on purchasing SFR instead of building specs.

Now at your 120K you're up at about a 13% return and that I think is in keeping with what you should be looking for in the given area you described.I didn't account for the garage because I wasn't as sure of it's viability as an income stream, in my area homes that have garages rent with the garage, and the base rental rate is usually fairly close with and without the garage.

That didn't go over well, but her boyfriend is a bully and I didn't want to get bullied into an agreement that wasn't fair to us, hence why I hired prop management.

What the fair price is for the lease can't really be established over time, so it is then viewed as to what is the fair market rent for that property?