If an investor owns numerous units, you need to have a detailed conversation with them - don't just send them a rent increase notice.  

Do you want to be an active or passive investor, residential or commercial, and numerous other possibilities. 

So even if you don't cash flow so well in the beginning the other 2 elements will keep you going.  

Hi Joe,There are numerous ways to draw up a partnership agreement.

Most common reasons for numerous service calls:---You bought a crappy house with a lot of deferred maintenance issues---Tenants are causing the damage and need to be charged or removed---Poor quality of workmanship, so PMC should force handyman/contractor to be accountable---BONUS: a cost-effective solution was tried and failed, forcing a higher-priced solution.4) A good PMC will effectively do your bookkeeping for you via proper documentation and regular owner statements.

In the other, the Association owned all the building and building elements.   

I do 20-30 flips per year and have numerous rentals in the area but recently relocated to Tampa to continue to build my business. 

I usually have at least 1 other repair: leaky faucet, clogged drain, broken heating element, etc.

College rentals have been discussion numerous times in the forums.

Run the numbers but make sure to factor those two elements in before you decide...