If you could take a couple minutes to fill out this short survey, it would be very much appreciated.

Mean you have to pay association fee right?

Your description doesn't sound like a place that needs a full time manager so unless they are performing other services that cost is way out of line and I find it hard to believe an association can remain solvent giving up 33% to a pm. 8% for reserves is actually pretty low in most cases.

We are a member of the FEA and do continuing education for the CPA Associations and Bar Associations.  

Then subtract off closing costs, tax prorations, commissions, survey, insurance, etc, and you probably will end up losing money.

For example, if I know that Dollar General wants to lease the property, I can look at their site requirements and calculate the costs associated with bringing the property up to those standards.

@Varinder Kumar,If you can, try choosing a name this neutral and generic, like "xxx Associates", "xxx Industries", "xxx Enterprises", maybe add "of (state-name)", if needed.

The cash I have saved I will use for flips since those are a quicker turnaround on my money and it saves me significantly on the holding costs associated with loans but for my future cash flowing rental properties having cash doesn't help me I need to be able to secure loans to leverage.

I don't bring out an inspector as I have done enough of these that I know what to expect and the costs associated with repairs in our market. 

This is definitely a cheaper route, but also not the most structured way of learning or building a truly systems dependent business.I also think people often underestimate the risk associated with real estate investing as your mistakes throughout your career can be much more expensive then any investment in your education, systems, and technology.