They're in buss to make money from you so your job is to minimize it.

Put in trash about 55% and put in water 60 to 65%.Yes when you self manage you can say 35% total and suck out cash flow and do minimal maintenance.

If you have someone putting 20% down with a slightly lower offer it will be a lot easier for them to make up the difference with cash possibly then someone that is doing minimal downpayment financing.

By converting his home to a rental, he was able to utilize his knowledge about what kind of repairs could be expected in the future to determine an adequate repair/maintenance fund while also minimizing his down payment needed.If you live in a property already and simply want to acquire a rental property, then Jeremiah is absolutely correct.

For rental purpose you need to have an HO6 policy, which should cost you less than $300 with minimal liability and then you link it to you umbrella policy for a small fee.

I have the operating report for the previous 3 years and the numbers have not deviated much at all from the numbers stated above.Also, what are your thoughts on negotiating the seller to carry a portion of the loan to minimize out of pocket expense as far as a down payment?

I should look into getting an external property manager for a minimal fee even though I do most of the work.Being beneficiaries of IRA, we cannot possibly 100% contract things out.

I am just trying to minimize their ability to be wasteful.

Even if the expenses you list are correct (and I would be a little skeptical about the minimal cost for maintenance), I believe there are a number of costs you may have overlooked:Property insuranceLeasing costs (advertising and/or commissions)Grounds maintenance (lawn, snow removal?)

I also had to show the LLC's were in good standing, right back to the newspaper publishing of their creation(s).I got the feeling that because the audit was only giving her a minimal amount she was pushing it into different directions.