I have been doing some research into MF properties and have had some extremely informative conversations with some lenders and agents (Thank you Rick, Jonathan, and Jake).

It was previously owned by a husband and wife, the husband being active duty military since mid 2000s. 

Mainly just curious.You can for sure cut off their utilities and let them put them in their own name....but would that mean they are now picking up your electric?

Below are the figures:Purchase Price: $225,369.78ARV: $199,000.00Mortgage Balance: $209,099.44Great thing about wraps, however, is you can add equity, interest, and your own terms, which is what the borrower did here.Via adding $101,000.00 in equity, the borrower plans to sell the property for $300,000.00 for a 30 year amortization and have the borrower place a down payment of $15,000.00.

Hence hiring a PM is a singular independent solution. 

Local Agent How did you finance this deal?

I really wanted to use a PM, but at this point I'm seriously contemplating just letting my RE agent list it, screen the tenants & get a good handyman, plumber, electrician etc. to handle whatever issues come up. 

From my own experience, I know that letting personal biases or bad feelings about the seller or property affect my decision-making can cause me to miss out on chances.My first mistake was being too set in my ways and not being able to think outside the box.

I currently own a four-unit property in Los Angeles County.

Many of you probably know the „german“ way of doing things...The stereotype would be the punctuality and precision of the people and the public authorities.The reality is the following: a lot of barriers and long approval processes as well as legal restrictions when it comes to owning and handling capital.