My condo fees are $285.00 a month, property tax is $101.50 a month and utilities usually run $100-150 a month.I currently occupy this condo but am timing my savings to have enough for a higher % down payment on a larger property by the time my condo is 20% paid off.

They are the ones who will be tasked with the job. and yeah it's a very small town, lumberton is nearby but it's a very poor are and $1000 rent there is on the high side, so be careful. 

Ah, and then I must look at the larger picture.The month to month rentals need to sign a 6 month lease. 6 months is enough time for you to know if you wish to keep them, and it keeps cash flowing while you recover from this deal, and prepare for the next.I would have a sit-down with the tenants to explain that you purchased the property as an investment, and desire a profit.You have a lease with you, and a notice to vacate at the end of the month.

Additionally, the new water heaters are typically larger, so if there are space constraints, you may have some moving of walls to do which will add to the cost.

On the other end of the spectur, I feel you can get a little more aggressive on the upscale properties assuming you know the area as the larger margin spread creates more cushion. 

Hi Everyone -I am looking for some advice on what you are seeing property managers charge in New England for larger multifamilies, 50 units and above, including all the costs of employee payroll (leasing agents, site manager, etc) but excluding maintenance.

This will also change the broker network you want to tap into, as your standard residential agents will frequently be listing smaller deals and commercial brokers larger deals.

You can google, or even search these forums, for multifamily syndication and find countless companies that let you invest in larger scale properties, without the active management of direct ownership. 

Or maybe the larger list includes a truckload of junk?  

It's better to deal with a reputable larger firm vs. mom and pop shop to ensure they are doing everything on the up and up and someone isn't going to lay claim to your property in 3 months from now (like a divorced spouse...I've seen it happen)People's opinions are going to vary on the hard money.