It helps me stay busy with my disability.

If they were, especially if this guy has a disability, I'd be pretty mad that they chose cash flow over concern for someone willing to live like this.

In my real estate sales days were I drove routinely 30k plus miles a year a sound safe and new car were a must. cant be broke down while trying to show property. 

I bought it for $35,000, put $21,000 into it, put it on a 4 year lease at $825/month.With my monthly proforma budget, I calculate cash flow to be  $174/month.With my actuals, considering I have not had a repair expense in 14 months, it is just insurance, taxes and debt service for a cashflow somewhere over $400.Add in the fact that the tenants routinely pay late, generating an additional $35/month in late fee revenue.That's what I was referring to in terms of actuals vs proforma.  

@Delon Hall,We have it disabled right now but will hopefully have it turned back on in the near future.

Many of these groups manage both affordable and market rate however have a great deal of experience screening tenants and conducting routine unit inspections which it sounds like is a major issue with your existing company.

I routinely work with leasing clients who are looking to rent in the $2,000 - $3500 per month range.

(I have had tenants turn the AC off when they move out or the heat in winter)- We require they have someone check on the property if they leave it for more than 5 days (This is to make sure there are no water leaks or HVAC issues that lead to problems while they are gone)- No businesses can be run from the property (to prevent day care, laundry services, gambling, drugs or who knows what)- We specify yard care includes week spraying and cleaning up sticks less than 1" in diameter (otherwise tenants think yard care is mowing only)- We state that tenants utilities can be used for routine maintenance or repairs (I once had a tenant complain the roofers were using his power for their compressors)- We have a whole section on mold stating that mold is naturally occurring and results from excess moisture.

In short, the details should drive the equity split and not vice versa.Also, to echo Jay above, I routinely pay 15% profit on deals in "insane" California.  35% seems like an exorbitant profit margin unless you are hiring DaVinci himself.  

@Jeff Brenot  To control water, it is standard for us to disable/remove exterior spickets.