Commercial leasing has terrific advantages - the sharing of EVERY expense.

While the end target result is primarily the same for landlords (maximize rent, reduce expenses, asset appreciation, providing safe & affordable housing, etc.), the PM's have either zealously or begrudgingly had to incorporate new mediums and technologies in order to survive and thrive in this industry.  

I know cash for keys is generally faster and less expensive. 

With Chicago minimum wage @ $12/hr, assuming 2 working adults (working minimum wage), household income would be almost 5x the monthly rent for my 2BR apartments, leaving about $3k/mo for other expenses.

As for the utilities and any other expenses, you would likely have to pay those out of pocket. 

Bad tenants are expensive and a huge pain. 

Let's say I buy and rehab a property for $50,000 (all expenses included here, I'm trying to keep it simple) and it's ARV (did I use ARV correctly?)

FMLSo, yes extermination is expensive.

My expenses are $1100 mortgage, $250 utilities, $100 consumables, $150 miscellaneous expenses. 

My opinion is ultimately the PM company should be held liable to make sure this vendor gets paid.The PM agreement states: (21) hire contractors to repair, maintain, redecorate, or alter the Property provided that Broker does not expend more than $ for any single repair, maintenance item, redecoration, or alteration without Owner’s consent; Leasing & Management Agreement concerning: (TAR-2201) 6-1-10 Initialed for Identification by: Broker/Associate and Owner , Page 3 of 11 (22) hire contractors to make emergency repairs to the Property without regard to the expense limitation in Paragraph 4A(21) that Broker determines are necessary to protect the Property or the health or safety of an ordinary tenant;3) Should/Could the vendor file a mechanics lien at this point?