We are in contract of this apartment building in Kansas City, MO. 6 units, needs a total rehab/rebuild.

If I was doing a few deals a year and was relying on outside vendors, I'd look for MUCH higher returns.

What I later found out from the seller is that this house is part of a bigger lot with a total of 6 units (Yes!

I totally agree with you man.

The problem is when people start losing jobs or when loans are given to unqualified people.I know these "end is near" and "are we at the peak" type posts are totally click bait.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

My total was not quite 5k.

Long story short, he passed away last year and his wife is relying on the monthly income so it's actually good that they didn't have mortgages on those properties.It all comes down to your personal goals and comfort level. 

This actually sounds nice, since it means that the downpayment can be collected in a more relaxed manner, but its also tricky for obvious reasons.Is 8% of the total monthly rent a lot?

Sometimes a total crap show is priced so well you gotta buy it.