@Tobey Porter You are correct that the management fees differ considerably for long term rentals typically a 7%-10% management fee (per moth) + "leasing commission" of 1/2 months rent for a 6 month lease and up to a full months rent for a 1 year lease.For short term rentals the majority of the management fees here on Mau i ranges from 20% and up 35% - and some of the larger companies like the Aston or Outrigger will charge 50%.  

Major maintenance and repairs are the responsibility of the owner; you take care of nothing but what the lease requires.Profits ...in case appreciation occurs and you decide to sell in the future. 

The property needs major renovation so there is no competition from owner occupants so there is a value add there.  

You can also do a 203k on a duplex and do some major rehab if needed. 80% ARV is ambitious in those areas but it is out there if you are willing to rehab. 

One of the major advantages of BP is that people here really want to help and there is a high probablity that they have already experienced what you are going through.

The town I live in is a small community (<5000 people) and the majority of folks are in lower income brackets.

Property needs some minor fix up (10k) mostly cosmetic no major repairs.

Those in my opinion would be the major ones, but it could possibly be something else also.

That is against our policy in the majority of our forums.  

Conway has 3 major colleges and Little Rock has several colleges along with the state's only medical school.