https://www.biggerpockets.com/renewsblog/work-with-lenders-brrrr-method/The last time I was in Vegas, we met for breakfast and he walked me through this.

To determine what numbers and percentages to use for your projections, here are some useful methods that I've used: go look at properties for sale, network with local investors, and manage a property yourself. 

He may also be searching through his banks and investors for the best method to fund the deal.  

He is also on month to month lease, should I attempt to raise rent or should I stick with the blessing of having a quality tennant?

I too believe it is getting harder and harder to find the people you really need to consistently get the results you need to keep losses down in small-scale fix-and-flip and buy-and-hold operations like ours.Joe, I too have noticed the almost total lack of forum postings on how the non-self-managed are able to get actual quality work done instead of the illusion of it.

My goal is to have efficient, teachable methods, rent collection, listings, etc, so that when I am ready to hire an employee/employees, they can be trained to run necessary aspects of my business without skipping a beat.Any and all advice is welcome, and I thank you in advance!

Home improvements make sense if your neighbors have significantly higher quality features in their homes.

I've had contractors refuse to work if cash/check wasn't the method of payment. 

I'm a little bit worried about quality of tenants at that price.

Add to that you are essentially getting a free GC to oversee work, quality control it, negotiate pricing, hold vendors accountable, etc.In PM it's ALL about finding the right PM with lots of experience and who knows their stuff.