I handle most maintenance and we always have a renovation running.My grandparents ran much the same sort of operation in New York City many years ago.

It might not matter what your plan are if the seller is not motivated then you have to wait until they are which may be never for what you want to pay.   

I know most average investors will say diversify in all sorts of things however I want to start out in educating my self on one investment portal such as real estate.

@Chris SukalaThese are sort of Fill In The Blank questions at this point.

@Mike Corrill  What is your motivation for this?

Extra revenue for them and the profit motive takes away their The simple answer here is that they get paid nothing for your real estate investments, so they will work to undermine any real estate effort.

In short- the program is a partnership of sorts.

I will probably seek out a partnership of some sort when I've built up more capital, but I'm looking for a place to start.

@Juan Carlos Castillo, regardless of the reasons motivating this seller, unless you can make more rental income on this property its not going to cash flow well based on the numbers you provided earlier on this thread.  

And then maybe the board and management won’t think I’m some sort of monster?