The larger you go up in center size the PM fee can come down to 3% in some cases.CAM ( common area maintenance fees ) typically cover property taxes, landlord insurance, PM fees, maintenance to the building and service contracts.Some tenants instead of a NNN leases have NN lease or a gross lease.

Have you considered getting an umbrella insurance policy instead of an LLC for your first few properties?

@Amy Jo Holweger I’d say 200 bucks a month is fair after accounting for PM, mortgage, repairs, capex insurance and taxes 

I have set it up where I will be responsible for the title policy as it is my understanding that this creates the need for only one title policy in a double close and not two (of course need to confirm with title co) during a process like this.My questions are this: -What to watch out for when doing this, are there are any legal issues with marketing a short sale like this?

The Insurance company sent in a check for the Actual Cash Value.

@Joseph Sangimino  me personally having bought a note in PA last year ( not my normal day job)@Mike Hartzog  I like to leave that to the experts LOL.but if I was looking to buy this park  and I have owned a half a dozen of them so I like the asset.I would let this hedge fund clean up the title there in PA and then buy it as an OREO with new title insurance.. let them do the heavy lifting.. 

However, I do have a car note, insurance, student loans and a phone bill that I pay for every month.

I might have them right but if I do then it isn't really a cash flowing deal so I would appreciate some more experienced eyes on this.Purchase Price $79,000Sellers is paying the first $2000 of closing costsEstimated Repairs $20,000ARV $120,000This is two separate homes on the same property both are pretty much identical.Conservatively looking at $650 a month rent for each so $1300/month incomeRDP Insurance $1668 annually for bothTaxes around $1200I am figuring 5.5% for all loan valuesUsing about $44,800 on a HELOC and $66,200 on a 25 year amortized loan.Figuring 30% for all repair, vacancy, cap ex, and property management My totals come up to like $46/month cash flow. 

Get it to fit just right and go on to the next piece......if you screw up, just get another plank and start again....not a big deal.Get a good fit, and then a good bead of silicone between the plank and the tub.....that will need to be re-done every couple of years to insure a water tight sealUnless the tub is sitting on top of the tile, that's basically what the tile guys did and then filled the gaps with grout...same principlePretty easy to do....just tedious.The other option is to use quarter round....but you will still need to spend a lot of time trimming and getting the joints to match right at each angle etc

Most of us are aware that Rent controls are a failed policy, reduces affordable housing and hurts the economy.