Small owners are notorious for being "shoe-box owners" which means when you ask for their financials you get a shoe box full of receipts :-DRealistically, you don't need anything from the owner except the current rent roll.

They interview all types of folks who have been in your shoes too.

I'll just need to ask my RE agent to help me showcase the place in person.

Yes, the other stove was probably not working anymore because of their lack of cleanliness, but how would you feel if you were in the tenants shoes?

Of course there are very veteran investors here, but a lot of them started in the same shoes as us.

If I was in your shoes, I'd try to get you and the PM pulling in the same direction by paying a flat fee of 12-18%.

I expected a bit more - maybe the other shoe hasn't dropped yet and they're still coming...Interesting, perhaps it's a different crowd of travelers.. 

If I were in your shoes I would purchase it in a single LLC with you and your partners as 50/50 owners. 

We are looking for rehabbers/landlords in Milwaukee to showcase as well.  

If I were in your shoes I'd be trolling the assessors site to actually confirm your thesis.