Exhibit 10.1
 PROPERTY MANAGEMENT AGREEMENT
 Agreement Effective Date , Owner , Manager
 ARTICLE 1  DEFINITIONS
 Definitions
 Agreement
 Annual Business Plan
 Capital Budget
 Depository
 Effective Date
 Fiscal Year
 Governmental Requirements
 Gross Collections
 Hazardous Materials
 1




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Major Capital Improvements
 Management Fee
 Manager
 Operating Budget
 Owner
 Owners Representative
  Pass-Through Amounts  Exhibit A
 Property Exhibit
B
 Security Deposit Account
 State
 ARTICLE 2  APPOINTMENT OF AGENCY AND RENTAL RESPONSIBILITY
 Appointment .
 Owners Representative . Owners Representative
 2




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Leasing .
 Managers Standard of Care .
 ARTICLE 3  SERVICES TO BE PERFORMED BY MANAGER
 Expense of Owner .
 Costs and Expenses excluding however i.e.
 3




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Other
  Covenants Concerning Payment of Operating Expenses
 Employment of Personnel .
 4




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Utility and Service Contracts .
 Maintenance and Repair of Property . ($5,000.00)
 Supervision of Capital Improvements or Major Repairs .
 5




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Major
Capital Improvements
 Insurance.
 Owner Requirements
 Manager Requirements
 6




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Loss or Liability Claims employees,
 Manager Indemnity
 Acts of Tenants and Third Parties
 Collection of Monies . carports, storage spaces (
 7




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Manager Disbursements.
 Managers Compensation and Reimbursements
 Debt Service
 Third Parties
 Other Provisions
 Use and Maintenance of Premises .
 Annual Business Plan.
 Submission
 8




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Annual Business Plan Operating Budget Capital Budget
 Approval
 Revision
 Implementation
 Records, Reporting .
 9




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Financial Reports.
 Monthly Reports
 Annual Reports
 Employee Files
 Compliance with Governmental Requirements . Governmental Requirements
 10




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ARTICLE 4  MANAGERS COMPENSATION, TERM
 Fees Paid to Manager . Management
Fee
 Term .
 Termination Rights .
 Duties on Termination .
 ARTICLE 5  PROCEDURES FOR HANDLING RECEIPTS AND OPERATING CAPITAL
 Security Deposits .
 11




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Security Deposit
Account
 Separation of Owners Monies .
 Depository Accounts .
 Working Capital .
 Authorized Signatures .
 12




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ARTICLE 6  MISCELLANEOUS
 Assignment . ab
initio
 Notices .
 Entire Agreement .
 No Partnership .
 No Third Party Beneficiary .
 Severability .
 Captions, Plural Terms .
 13




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Attorneys Fees .
 Signs .
 Survival of Indemnities .
 Governing Law .
 Competitive Properties .
 Set Off .
 Notice of Default .
 Counterparts .
  14




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OWNER:
    SIR CLARION PARK, LLC,
a Delaware limited liability companyBy:
    Steadfast Income Advisor, LLC, its Manager By:
    /s/ Ana Marie del RioName:
    Ana Marie del RioTitle:
    Secretary MANAGER:
    STEADFAST MANAGEMENT CO., INC.By:
    /s/ Dinesh DavarName:
    Dinesh DavarTitle:
    Treasurer/CFO 15




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EXHIBIT A
 Estimated Pass-Through Amounts
 Benefits Administration (at 3% of total emp. costs)
    
    $
    537.50IT Infrastructure, Licenses and Support (assumes 4 computers)
    
    $
    508.33Marketing/Training/Continuing Educations ($20.00 p.u.p.y.)
    
    $
    366.67




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Exhibit B
 THE PROPERTY
 th