An investor is using their money (cost to PM) to buy time (to spend with family, etc.).An employee/worker is using their time to buy money.One of the great models is to be the worker until everything is wonderful (saving lots of money by spearheading those efforts) and then move into the role of investor and only manage the managers.What are your personal goals?

Giving someone possession of a $150,000 asset in exchange for a $3,000 check and a lease is one hell of an act of faith--make sure you get it right!

So, that doesn't seem like the best choice.Once we take possession, its ours to do with as we wish.

You have possession of the property.

Hi folks,I am developing my universal model in excel for quickly analyzing deals.

I'm more concerned about how much patching to do, water damage, anything funky that a hack re modeler has done, that sort of thing.Again, it depends on my intent, but I wouldn't move to replace windows unless that fit within the scope of my intent.

The idea is interesting to me but I'm not sure if it is still a profitable business model still.

Phil took my version 1 of this spreadsheet and ran with it if you'd like a sample model for a more in-depth analysis:Pro Forma Template - Small Apartments v7You should check out BP more.

Your model sounds exactly like what I did.I had a 60's split level in Murphey Candler.

On one property that I'm familiar with the title company won't insure a tax sale that is from 19 years ago, because the statute here for adverse possession is 21 years, so the want the tax sale to be 21 years old before they will issue title insurance.Real estate agents are not title experts, maybe 1 in 1,000.