I know it is something I want to test the waters at.  

Currently owe on loan: $109,000Purchase price: $118,000ARV (based on comps and upgrades to the house): $135,000Mortgage: $830 (if refinanced $600)Average rent in the area: $1100Other fees: HOA $24, Water $45

Maybe our PM have bigger projects, maybe some of the investors want him and his team to do renovation so it is a bigger business for him, or maybe this is just the regular procedure, it is our first property and basically we are still learning about all of this, but the facts are that we are paying for the mortgage, electricity,water, somebody needs to cut the grass especially in this period of the year ( we don't even know is the grass cut or not) and so on.So I was trying to find out what is the normal period in which the professional PM is going to find tenants and rent the property?

Since you have the liberty to decide on the layout, consider the best placement for the appliances first and what they need for proper ducting, power, water and gas (if applicable).

If not, the cost of utilities you'd need to pay should be factored into your assumptions (it'd be surprising, for example, if heat and hot water were separate for all units).

@Russell Brazil et al.The property on which we submitted a "lower best offer" back in the spring <see above> is still on the market.  

(You know these were classy people when they spring for the "deluxe" version of a head versus the standard.)

Matthew,I would be interested in what you can do.My current market is Colorado Springs.

If you care to drive to Hot Springs we are having an investors MeetUp this Sat.

Utilities are separate except the water... we get 700 and 775 with us only paying the water as far as utilities... the rent on the one side could probably be increased.