[1]. You have $15 million cash to invest in real estate - What would you choose as your form of ownership to start investing in real estate? Would you act as your own property manager? Why or why not? If you hired a property manager what would you expect as far as communication? [2]. Choose and explain your Property Management Plan based on one of the following scenarios. Scenario #1 owner: Sarah. Sarah owns a 100-unit apartment building that her grandfather built in Los Angeles shortly after WWII ended in 1945. Many soldiers returning from the war lived in the building including Sarah's father and mother. Sarah's parents managed the building, and she lived there all her life, making friends with the other families that lived there. Sarah made friends with many movie stars who lived in the building as they were beginning their careers. Sarah loves the building; she feels a loyalty and connection to the property. Her goal as owner is to take the best care of the building and tenants as possible. As property manager what type of plan would you propose to Sarah? Scenario #2 owner: Briana. Briana is a serious real estate investor and owns a 100-unit apartment building that her grandfather built in Los Angeles shortly after WWII ended in 1945. Many soldiers returning from the war lived in the building, including Briana's mother and father. After Briana's mother and father divorced, she and her mother moved to New York while her father stayed in Los Angeles and managed the building. He has recently passed away after living in the building for many years. Briana's goal as owner is to maximize the concept of "highest and best use" of the building for the benefit of her six children and two grandchildren. As property manager what type of plan would you propose to Briana? [3]. A property manager must have some fundamental understanding of accounting and bookkeeping functions. What software programs would you recommend to your owner as a property manager? Research https://www.yardi.com/ and explain what they do and how you might use Yardi to be a better property manager. Feel free to contact YARDI and ask them about their product! You can always go into the "Student Lounge" to talk with other students and see how they are doing on this assignment.