The challenge was separating business from personal relationship.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Not sure what your monthly cost is, but every vacant month it costs a lot trying to make that up. 

You need to know what things cost.

You can start to educate yourself on the individual components; how much does it cost to paint on a per sqft basis or what is an average kitchen remodel.  

Those holding cost will certainly add up over time and kill any cash flow.

How much did the rehab cost and how long did it take to complete?

The best place to start is with a spreadsheet that has every every cost itemized. 

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family.