My partner works in finance and I have been managing high-profile construction projects for about a decade.

I'm conducting research for an MBA project and am trying to do a bottom-up analysis of the residential real estate, property management market and what percentage of that market is comprised of properties with out-of-state land lords.The very specific question I am looking to answer is how many landlords own rental properties out of state, and how much do those landlords pay to management companies annually?

If you have no experience managing 1 tenant adding three more into the mix isn't going to help.

Sanjeev Advani, a luminary in real estate, property management, and construction, brings forth a unique perspective on how to navigate the market for long-term success.

I would suggest following up with the PM and ask if they have proactively provided change of management details (essentially, letting the tenants know that new owner effective 03/29/2024 and were rents should be sent).

Can you manage a rehab?  

The other constraint, the seller is not interested in a 1031 exchange if it means owning/managing another property.So far, the only concept I can think of is something like a contingent title transfer upon closing.  

I’m interested in expanding my own portfolio but I am really eager to help other investors manage their property and co-host with them!

Or a just a LLC as property management company not sure because my whole purpose is to be working for the business.

What's your experience owning and/or managing this asset & how did you arrive at your return calculations?