Would like to keep the grand kids in the same school (Whitmer H.S, Toledo, OH).

So on a small duplex with lets say rental income of 2 grand, I can expect the management fee to be around 200-300 a month right?

The owner  said she just wants out and would settle for a few grand.

Your right Joel, I mis-spoke, yes it will probably take about a grand for them to think maybe this is a better option than eviction, but depending on if it's a professional tenant or not, they would probably rather take the $500 than ended up being evicted with nothing, that's how I would word it to them.

@Barry CohenI run a property management company in Grand Rapids overseeing approximately 500 units.

I wont do that never really seen anything that works.. although many of my clients have their wholesalers and I see them getting paid a few grand on the huds.. in the major wholesale markets.. which are major mid west or upper east coast inner cities.4. on the pre foreclosure one's its amazing that so many of them write these flowery letters and more amazing to find out that most of them trying to help these poor people were once themselves broke and losing a house and there fore they are just out to help this poor person who is in foreclosure

But, here are some quick examples:AZ - 4 plex in Casa Grande for $160k with $2400/mo gross - that's 1.5%AZ - unoccupied 4 plex in Globe for $100k that needs $10k in improvement with a rent potential of $2000/mo gross - that's less than 1% (if you can even rent it out)AZ - PHX metro area in general was even less encouraging.

Within a mile and half from downtown Grand Rapids. 

Also, I had a building heater go out in January which set me back a couple grand.

I'd have to disagree though on allocating a grand total of 15% for vacancies, maintenance, and capex.