I always budget 15% for overages, unforeseen upgrades, and punch list items.

These items are going to have the biggest impact on your returns.

You can always work out a deal with your broker too change that, in which you would need the above items.  

If I had them managed, that would easily add 10-15% to the expenses.I think if you actually itemize all of your costs, you will quickly find that a $250k duplex with rents only $2k a month to be a marginal deal, and a bad deal when you try and finance 100% of the deal.  

I also know that management fee and salaried employees are separate line items.

If not just request line item pricing and also what is being done in house vs. outsourced.

Because there is a good tenant in place, the current owner stated they would like to keep them around, plus I believe this would likely save me a lot of money vs. using hard money for my "bridge" financing, I would like to have a seller carry option to offer in negotiations ready to go.  

I think, unfortunately, your friend made some very critical mistakes that are going to cost him time and money.Here's what I see as the steps to unraveling these egregious errors:(1) Hire an attorney whom specializes in landlord/tenant law(2) Wait for the eviction moratorium in NYS to end (patience will be required here, as we're at 16 months and counting)(3) Under your attorney's advice, carry out an action against this freeloading occupant as a "licensee"  (I think it's called section 425?

@Uri E.As a Property Management that deals with Home warranty on a daily basis the answer is NO…Reason - for the small items they are going to pay but when there is a big ticket item they will always find a way to have the Owner pay for that same fix.

My score is currently around 650 with limited lines of credit (student loan and 1 credit card) I haven’t noticed a change in score for about 2 months now and I make all my payments on time and carry a Low balance on my credit card...Are there any tips on how to boost my score ?