:) My daughter's issue, and now mine, is that the landlords have known for years that the unit didn't cut it.  

Or at least cut the costs back?

If investors could do all those things, why don't they and cut out the middle man?

I allot 5% to vacancy, 5% to repairs, and currently 10% to capex I'm putting 10% to capex now although when I do quit self managing, I will be cutting that back to 5% which is the average reserve for the quality, and then take a little hit on the cashflow when bringing in property management. 

I like handling my own repairs with my own contractors as I can usually cut costs or at least have more control on bigger ticket items and overall know what I can expect.  

He says he doesn't have time for it, dumping it out of his portfolio, willing to sell it for his cut (3,500) acting as a wholesaler i guess, and for the cost of the back taxes owed the city, now at 11,000 dollars.

.- separation of books/finances/accounting - seems a lot more clean cut with its own entity

NOTE this is more than the $135k the property is worth but she would be collecting every penny and more over the term of the note.With that being said those are 2 valid options and they can be played with or tweaked to provide the perfect deal.For Example:If she comes back and says the 18k has to be paid off and is not willing to risk her credit being damaged and trust you to pay the mortgage on time go with Option 1.If she says she wants to increase her income by $500 per month and that $300 and change will not cut it.  

And don't cut down attorney saying that they are all crooks were there just a kill deal, even though they are deal killers.When I say if they bring up the attorney objection is..."

It also cuts down on water usage.