Aside from the financial reality that a PM will consume over 1/3 of your cash flow (~15% all in with all fees included of GROSS rents, which is likely >30% of NET),  managing a bad PM is MORE work than managing a good tenant yourself ... a vast majority of PMs are bad (PMs and newbies will argue otherwise, but this has been my experience) ... if you buy quality properties in quality locations (see Sales part in OP) and then screen your tenants, then most tenants are good.I would also hope that this post would dispel the common false belief that REI, at least as far as owning individual properties, is or even should be a passive investment ... it is not, it is starting and running a business just like any other.

In reading OP's post, he's not talking about a large scale investment project, he said "Hey BP, I am currently looking to partner on a small multifamily deal with a friend.....".

I am just a customer.Disclaimer 2: Not commenting on what the OP is actually doing, simply for how to sign a document online.To have someone electronically sign documents you can use Authentisign by Instanet solutions (Google them).

It seems mostly apparent from the ops description that the use of the word condemn here is in reference to building code violations being enforced in an order to destroy the physical structure on the land, and not seize the land through the use of eminent domain, nor to express disapproval.And when a municipality condemns your physical building, you don't get compensation like you would via eminent domain condemnation, but rather you get a big fat bill for the cost of demoliting the property.

OP, Mr.

@Walt Payne  I, too, read those posts and while there are some good points in them and they were generally true, due to their placement in the particular thread they were in it would lead one to believe the comments were directed at the OP.

Just read the link that was in the OP for other examples.

If the OP never rents his rentals, he clearly don't need a checking account.

Co-mingling funds in a bank account can be a problem as the master account holder has the ultimate liability.It may be that the op is exempt from escrow requirements if the property is personally held and on a cash basis, you'll be reconizing deposits as income deposited in your general account.If the property is in a business, you will likely be required to have an escrow account.

Chris Clothier -While I don't know much about your business, given what I suspect, I would put your company in a completely different category than the OP.1.