If it was only 37.65% leveraged then the calc would be $400,000/62.35% = $641,539,000 ish for your gross sale.

If you were to bring in a PM for this, you'd lose anywhere from 5-10% of your gross rents, which would probably eliminate a good chunk (if not all) of whatever cash flow you were anticipating.This is something else I see all the time where potential investors/landlords do not take into account the cost & time of managing the property.

That's not enough rent to underwrite the losses over a reasonable hold period; specifically not if the first 10% of gross goes to TK provider. 

You know they are new and will call night and day taking up tons of time.The answer is to have a system and employees that make much less per hour sell them this stuff and say they are working with XX by you talking and training with them.If I take time not doing deals then money is coming out of my pocket.

Colin Schleining I don't know any contractors for residential, we self perform our contracts (we do everything with our employees), we don't need subs unless it is a specialty, like asphalt paving, or something with machine intensive.

Once it is paid off in 2033 (probably a couple years sooner since we applied extra principal the first couple years we owned it), we should be grossing over $25k/yr with no mortgage payment plus have $250k+ in equity.

The fee depends if you are hiring a full time project manager that would basically be like an employee or if you are looking for a GC that manages their own projects.  

I have a great relationship with the Branch Manager (and pretty much all of the employees) at a branch of our regional community bank.

To say we were friends is a gross understatement.

The woman at the front desk, who is an employee for now, has her license now.