Realistic property management for 8 unit building

[Kay Ferdous]

I'm currently analyzing a deal for a 8 unit building. Current owner doesn't have any property manager in place and also doesn't have records of vacancies. I have no intention of managing the property myself. What rate would you guys put in for these two categories. Property is in New Jersey. Im thinking 10% for both. But wanted second opinion

[Amanda Sokol]

Are you including cleaning of common area, repairs, pest control, and landscaping under maintenance? Also either legal fees for leases or real estate agent commissions. I would make sure your insurance quote includes additional fire coverage.