Because I sent them an e-mail and they sent me the link in the original post (https://www.cmha.net/housing/landlords/rent.php) that shows that amount.

It sounds like there's a bit of a vacuum in reliable local property managers.I was originally thinking of setting up a property management company to take care of the properties that my partner and I purchase.

Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?

This venture was originally expected to have a 10 year horizon, with the goal to maximize IRR in that period. 

In your case, it could make sense to setup a series LLC to isolate each property.

Whoops meant to respond to you and not my original post (sorry I'm new here). 

Any decent lender should allow you to borrow against your airbnb, without disturbing the original 2% loan.Example: I have a 6 unit that had ~$500K in equity.

Regardless of your real estate investing strategy, pre-foreclosure properties can be an excellent way to purchase real estate at a low price.This post originally appeared on the BiggerPockets blog.12.

Syndicators can negotiate terms and rates that are impossible otherwise, including on portfolio terms as in that banking entity is holding/servicing the financing themselves, on there books, not originating and selling it off. 

Pulling the wool over someone's eyes can happen in any relationship, is not conducive to long-term success, and should be condemned.Your original reply asked for "someone to explain to me how this model truly benefits the property owner".