My income from my regular job is more than enough and I mistakingly said pre-qual instead of pre-approval.

Yes John I specialize as a commercial broker in multifamily.Residential is 10% but can go up to 12 to 13% if you are buying in a war zone that will be a headache for the PM company to manage.Multifamily if you just have a duplex,tri-plex,or quad the rates typically stay around 10% unless you go for ala carte type services which I don't recommend.50 units or more in one development usually the rate is 5%,under 50 units to 20 is about 6 to 7%,under 20 down to 4 ranges from 7 to 10%.These are not set numbers just what I see.It also depends on not only the number of units but what you are purchasing.If an existing management company stays on they might give you a deal but depends on how they performed in the past from the seller you are purchasing from if you would want to keep them.Also a factor is location and if the facility is turn key and fully performing.If the building needs turning (half-filled) around or is completely vacant there will be extra costs by the PM to get it performing again besides the regular percentages.Anything 5 units or over is commercial lending.Hope it helps.

One of our tenants said that Bob parks his car on our property and uses our water to wash his car.

Property management is sue happy.E and O insurance carriers charge money with policies based on data they have learned over time just like car insurance.Usually when tenants and owners have an argument the attorneys say let's go after the property manager.Property management doesn't pay much,is a huge headache,and is sue happy.E and O knows PM is the highest form of litigation claims coupled with construction projects.When a broker sets up a PM company they are smart to keep a separate company so if sued they can shut it down without affecting the regular brokerage or their other assets.

But that has an unusual pattern, suit would cover the whole area, not flow down unless washed down.I'll take door number one....the bees!

But finding a really good deal is very hard, and this is an expensive approach that will result in a higher debt load on the property than a regular purchase.

If your current tenant want's to lock you out, a regular lock (non-smart key) isn't going to stop them.

In the US policy makers' point of view, buying a home is a much better investment than owning regular financial assets.

I would own the house - and whatever I'd want to do with it, as in a regular sale.

In addition to the regular late fee, you'll get hit with some kind of processing/paperwork fee and "legal" fees.