Hey Tom, this CPA here in Philly "Cuts Like a Knife" and thanks for the response.I have been in your shoes where the "shark" smells blood and is able to take most of your deal because he/she can.

You'll get better at talking and developing relationships through it over time and eventually you'll have a consistent stream of off market deals coming through.

Since long term rental revenue is deemed passive revenue, I was told I was not able to claim passive income costs from my active income streams, which included the depreciation cost of my long term properties.

We plan to add several other revenue streams, including renting out onsite storage that was previously included with units, covered parking, revenue gain from a new laundry facility (just completed), and adding amenities such as a grill patio and play structures.We project the IRR for a 5 year hold to be 23%, and a 10 year hold at 20%.

We stream line it and make it so simple for someone to sell and avoid all that nonsense.

You are either saved by the power and washed in the blood of Rich Dad, Poor Dad, or you are not.

He's entitled to his opinion and will wait on it while an endless stream of realtors call him to "help".The idea that off market deals are cheaper comes from the lack of commission as you mentioned and finding sellers who are unaware of their property's actual value.

And def get water company in there to replace Most homes dont have sump pumps unless near coastal areas or areas with underground streams or a high water table.

You're 100% correct that you should not be managing it as it is a passive stream,  you should really be considering establishing certain boundaries with your PM then.

I enjoy my career, but am looking for a passive income stream to build wealth and provide me with further options.