One of my Property Management clients has expressed an interest in selling a triplex to me using a Master Lease Option to get around the bank.

I have a realtor that does property manager and we are trying to figure what else can we do it to make it rented in this off season.

Deanna, We are kinda big compared to most mom and pop investors, there are 4 owners in Colorado (Steve G, Steve W, Manny, and Me) and then we have a Partner/Project Manager in each of our markets.

He started out by finding a park for someone else in the early "90s and then being hired to manage it.

You might have other legal expenses, like evictions, though.Also, I have commonly heard between 5-10% vacancy.Personally, I have tried running numbers on a lot of homes with 8-10% vacancy, and 5-10% for each of capex, maintenance and property management, and nothing ever comes close to working out.I think I'm going to just budget like $200-300/month for maintenance and capex, forget about property management (because that's my job, for now), and pray!  

As with any investment that you don't live in you or you hire someone to manage it. 

I assume you are managing the unit and not a PM?

Call the comps and speak with the property manager or experienced leasing agent and ask a ton of questions, but be respectful of their time as they don't have much for someone not renting a unit.  

I was able to locate one in my previous city (same state), so would if be productive to try to use a closing attorney in another city or in the experience of my fellow investors, does that generally cause too much headache to manage? 

We are managing the project 100% since they are out of state.