Here in Calif, an onsite manager is required at 16+ doors and that defacto leads to the PM per the discussion above.

Christian Nachtrieb have you tried listing on Zillow rental manager? I

He attributes his success to his mentor. 

@Ayodeji Kuponiyifor replacement reserves I use $250 per unit per year but that can go up depending on the class and property attributes. 

IMO a property manager is a must if your an out of state landlord.

I am local but would keep the manager, I dont want to buy myself a job.  

Is there a special reason why the asset manager is delaying the process, has there been a some sort of explanation as to not closing on the scheduled date?

If you have or will receive equity in or title to the property, the rent is not deductible.Interest - Business interest expense is an amount charged for the use of money you borrowed for business activities.Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.Insurance - Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession.Read More at: http://www.irs.gov/pub/irs-pdf/p925.pdf And http://www.irs.gov/Businesses/Small-Businesses-&-S...

I currently have properties in Knoxville where my property manager is not proactive on giving timely information on things that were fixed until I get the monthly check showing deductions.

Realtor networking and getting my absentee owner/direct mail going are my new goals.I like breaking up the lists by attributes, ListSource offers that pretty well.One last question!