I have had to send 4 disengagement letters (the same number of tenants we have have had to evict in the last year where we placed the tenants) to owners in the last year because they didn’t want to follow our guidelines or they didn’t want pay their bills or keep there property up to safety standards or they wanted to complain about everything (I’m sorry but we will not manage for slumlords) if you are a property manager don’t put up with toxic owners just as much as you wouldn’t put up with toxic tenants.

Think about what needs to get done to cut down repair costs and get it rented-that's it. 

:)  I'll never fight tenants if they want to break a lease due to safety concerns but I wouldn't take a financial hit either.  

Bc it cuts out the power bill, you can actually charge more to rent the property.

He said the old iron pipe had deteriorated and he would have to cut in to the wall to replace the drain pipe.

The reason we would be willing to take such a salary cut is to invest in more free time to focus on real estate.

Starting a group is more likely because the groups are usually close and adding someone new cuts into everyone’s profits.

My plan is to cut that in half so that I can qualify for traditional loan as I continue studying real estate and bring in private lenders.

A 2-3 hour drive to get to the property thus requiring a property manager since I work full-time, which cuts into the cash flow greatly, which is my primary goal.

That's not nearly enough margin to cover repair costs, closing costs, financing costs, realtor costs, your profit, margin of safety, etc.I'm not familiar with the property's neighborhood, but your property management budget of 8% is on the low side.