Once you factor in typical reserves (5-8% vacancy, 5% maintenance, 5% cap-ex), you're basically breaking even or slightly negative cash flow.The real question is what's the $187k going to do for you?

Learn just enough to understand the basics of deals, financing, and operations without getting stuck in analysis mode.

Right now a lot of the PMS softwares have a very basic AI but I know many plan to implement a better one soon in the coming year.

Do you do regular documented walkthroughs or just the basic annual ones?

laughed when I saw that comment as you are correct don, we correspond with multiple DSCR lenders who are the institutional lenders and most do not allow a second and if you do it has to be disclosed upfront and never would allow 100% financing on it AND it still has to meet their DSCR requirements.Saying it does not matter basically is admitting to mortgage fraud.

You’re not a random office where they’re one of 200 clients.Communication – Clear update schedule (monthly report, repair approvals, tenant issues).Cost savings – Yes, lower fee, but frame it as efficiency, not discount labor.Shared trust – You’re protecting their homes like your own.But — and this is important — you also need to show you’re taking this seriously as a business, not a favor.Before you pitch, line up:A basic management agreement (spell out duties, fees, repair limits, etc.)Process for maintenance (who you call, response times, emergency plan)Screening criteria (income, credit, background, pets)Rent collection system (online payments only — no chasing checks)Local landlord-tenant laws knowledge for VAStarting tips that matter most:Screening makes or breaks everything.

This post is basically a user-authored indictment of the entire modern PMS category.Let me reframe what Judith actually said—because when you line it up cleanly, it’s devastating.What Judith accidentally wrote (decoded)Scale reality check87 doors, 16 ownersThis is not enterprise.

These positions teach you day-to-day operations such as leasing, tenant communication, rent collection, budgeting basics, and maintenance coordination.To learn for free or low cost:Read state landlord–tenant laws and fair housing rules (important)Follow reputable industry resources like BiggerPockets and property management blogsUse free demos or tutorials from property management software companies to understand systemsLearn basic accounting and record-keepingMost interviewers won’t expect you to know everything at 18.

Learn the basics in QBO or even start off with an Excel sheet.

What you'll find is it won't be as easy to cashflow as you think🤨You're basically looking at 100% financing.This would have worked 5+ years ago when property values were still depressed vs rents, but very difficult to find now.The only way it MIGHT work is if the private lender is willng to forego payments until you can refinance to pay them off. - How long this will take will depend on your purchase price, forced appreciation via improvements and market appreciation.FYI: private money usually refers to you borrowing funds from family or friends.