Since the seller is moving out of state, he’ll be a non-resident.
And correct me if I’m wrong, but the property manager’s distribution is the gross rent minus their fee. Owner still pays taxes, common charges, and mortgage directly, no? So the withholding would be closer to a percentage of the gross rent than that of the the net income. And unless an exception is granted, Jerry’s Pigs will owe the owner at year’s end, rather than vice-versa.
Personally, if either of my offers in CA go through, I have no intention of using a management crook.
