Then many years for the equity position to be recovered.2) let’s go no financing and use 50% rule so $900/month after sustained expenses

I was just telling my friend today that I'm getting multi-family, high performance, and relationship mentoring all in one package! 

I have a mix of MTRs, STRs, and a room rental and I can perform all the needed property management and bookkeeping features on the site. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

He even agreed to selling me one of his since it’s already performing and ready to go.

Do not rely on your subcontractors to know/perform the code correctly for your area.

.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

Come to think of it, though, I can't imagine why they wouldn't let me perform one just to understand how much I can offer.  

It's no guarantee but it's a good place to start.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!