You could also offer to take the property off their hands, as is, via Quit Claim Deed(s) from everyone with a legal interest in the property -for a substantial discount on the price (25%)?

Cost will depend on a lot of factors: size of the units, how many head units are needed, how well air sealed and insulated they are, window placement and efficiency, difficulty of electrical and running the lines.

Hey @Edwin Parrilla, I have not used them myself, but I have a friend who recommended Ellsworth, I think they are on the pricier side as a heads up.

I'm secure; roof over our head, food on table, wife/kids enjoy minor luxuries here n there, school activies etc, and while saving 15-20% income each month. 

Overlay that with what your objectives are and once you find the best fit you are already off to a head start because you have enough capital.

As an employee, we get a fairly substantial discount on materials.

I have seen other PM agreements have a termination fee if there is a tenant in place (usually equal to management fees that would have been due through the end of a tenant's lease).If you are not able to terminate with 30 day notice, do give them a heads up at least 60 days prior to your tenant's lease end date.

@Matt HarperSounds like you are headed in the right direction.

Another quick example off the top of my head and leaving out all the additional costs... but... if u bought a home for 100k..put in 50k rehab... sold for 175k...your profit is 25k..but if u started with 50k u put in...ur now negative 25k.

I just hope it goes up to something substantial for you.