On an unrelated note I am also attempting to market off the probate list, but I'm having some trouble figuring out what information I should be taking from it.

I know that I have to wait until I get the deed to prove ownership but that can take up to 30 more days and I'd like to start the conversation now and i'm not attempting to collect any rent.  

@Tony VelezThe 50% guideline is simply a statistical observation: looking at a sample of rental properties, over time the operating costs run approximately 50% of the gross revenue.

@Ryland Taniguchi  I have done a lot of work with SDRIA custodians over the years and I have never heard of any of them prepping RE docs  ... it would be a normal escrow with your escrow officer prepping your DT and if they are able your Prom note.they then send to the custodian for approval. then they fund.Once the nice things about working with lenders that have a true check book IRA they simply cut a check to title and its much smoother than the custodian approach.

Or he has listed it with no offers, or simply needs to close immediately?

He argued that since he was not the owner or operator, but simply the manager, that he shouldn't be held responsible for the property conditions. 

I have learned a good deal myself in simply reading the forums daily.

He takes a lot of pride in his units so when the tenant left he simply did what he always does which is look around the unit and update or replace as needed.

I have had smoe success finding properties who's rents are lower then market then simply raising the rents.  

If by chance you go to court, you simply bring all your proof...letters, proof of payments received vs. not...phone records showing how often you DON'T call/text her.