I have noticed in my area that some properties can perform (in terms of cap rate) 3 or 4 times better than others.

I have been actively acquiring Notes for passive cash flow since that time.I like the the passive nature, the safety and the cash flow that I receive from Performing Mortgage Notes.

We work closely with a company that will perform "remote closings" on site, as well as "mail away" closings for signatures, and the money side can all be done via wire transfer.Before you expend a lot of money and effort, establish some partners and systems to make everything more simple and efficient.

Performing notes will bring you 8 to 10% or so... note funds 12% or so.. syndications 8% with upside if there is some upside. some risk there.no leverage but it does not sound like your a leverage guy any way..

Look like last time handyman didnot perform great job in re caulking bathroom shower. 

I doubt they'd do this for a 16-unit though, so I'd expect to see something between 5-10% management fees per month.Personally I'd look more towards highering someone yourself because then you can base their compensation on performance.

You cannot use your unit as you please (for own occupancy or renting) and, worse, you cannot fire them as property manager even if their performance is bad.

Annihilate all competition not by destroying them, but by completely outdoing and out performing them.GET A WEBSITE!

Third use the cash flow to buy an investment that does actually performs on cash flow AND your main wealth generators principal and appreciation.

while I like notes I don't like contract for deeds too risky when you can just simply buy good performing first trust deeds and not reperforming those are risky as well. although I think the OP probably wants to be a landlord .. but for IRAs nothing beats good solid notes..