Colin Schleining I don't know any contractors for residential, we self perform our contracts (we do everything with our employees), we don't need subs unless it is a specialty, like asphalt paving, or something with machine intensive.

Once it is paid off in 2033 (probably a couple years sooner since we applied extra principal the first couple years we owned it), we should be grossing over $25k/yr with no mortgage payment plus have $250k+ in equity.

The fee depends if you are hiring a full time project manager that would basically be like an employee or if you are looking for a GC that manages their own projects.  

I have a great relationship with the Branch Manager (and pretty much all of the employees) at a branch of our regional community bank.

To say we were friends is a gross understatement.

The woman at the front desk, who is an employee for now, has her license now.

If there's any event where it's NOT rented for some reason, I'll send a couple employees over there to park cars in the yard at $50 a pop.

One thing missing from here is any employee costs if you're going to have management or maintenance staff.OPERATING EXPENSES Repairs and MaintenanceApplianceRepairElectrical RepairCredit ReportsCleaning or JanitorialRoof RepairPaintingHVAC (Heat, Ventilation, Air)ApplianceReplacementLawn CareLockworkCarpet/Floor CoveringsPest ControlPlumbing RepairEviction/DispossessoryExpenseManagementElectricityWater & SewerOPERATING EXPENSEPaintingRoofingPlumbingGround MaintenanceLock & KeyDumpsterElectrical RepairHeat/CoolRepair& ReplacementTermite/Pest ControlCarpetCleaning/ReplacementEviction ExpenseApplianceRepair/ReplacementElectricityWater/SanitationMisc.

Originally posted by NA Beard:, take the GSI / Price better known as the Cap Rate and higher is more interesting.That calculation is for GRM, not cap rate. ( gross rent multiplier)

-Track employees performance.