You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-ez for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.

Charles, I didn't read the complete article, but I find it hard to believe that the banks will park all this money for just 0.25% return.Here's an article addressing the question:http://www.newyorkfed.org/research/staff_reports/sr380.pdfHere's the conclusion from the article:We began this article with a question: Why are banks holding so many excess reserves?

They were able to bid the entire amount of the second + the amount due on the first because anything in excess of the first goes back to them, I guess.

Last thing, you should be offering at prices that other investors would be willing to pay, so you could "wholesale" any excess inventory you get.

Usually about monthly, I transfer the excess cash to a savings account.

Based on what you are saying, the current owner has excess costs and a poor growth strategy. 

He mentioned that a 3BR voucher allows for more people in the apartment which contributes to excessive wear and tear.

When I am required to show proof of funds I have my bank write a letter stating that I have in excess of the contract amount on deposit and available for withdrawal.

There may be other reasons to dump a property manager (bad tenants, excessive vacancies, excessive maintenance), but if they're doing a good job, the 6% is probably well worth it.

Erion,First of all, the mortgage isn't an expense - it's debt.You left out a bunch of expenses, including but not limited to: managment (even if you do it yourself), advertising, legal fees, entity maintenance, utilities (even if only during vacancies), damage done by tenants in excess of the security deposit, evictions, lawsuits, HOA special assessments, capital expenses (not technically an operating expense), etc, etc, etc.I included the entire purchase price because you must account for all the money.