For those who have used a  PM and changed PM, what questions did you ask to evaluate the new PM? 

It’s great that you’ve already started practicing with NOI and cap rates for evaluating properties, but you're right that smaller properties, like quadplexes or less, are often valued differently.For residential properties with four units or fewer, the market tends to focus more on comparable sales in the area rather than purely relying on income calculations like cap rate.

Evaluate rehab costs conservatively and explore financing options.

The Dallas one was 13 miles away from SMU in a submarket that will likely not draw one student, one faculty member, or even one employee from SMU. 

DealMachine has a lot of employees in Indy who also invest there.

What I recommend is looking at it over a longer period of time like the previous year to evaluate it.

It seems that pushing them to do their jobs is always essential; - There is a lack of horizontal connections between employees.

You should find a reliable rehab calculator and learn how to use it to evaluate the true profitability of your flip.

It would be a good mix of college students and medical field employees.

Sure it can be a write off, but my question is if it is the highest and best use of your time (or the given employees time) to be running a skid steer - transporting it, storage, maintenance, cleaning, etc, and if it still makes sense if you need to hire someone to run it for you and take care of the other things.Add up all those recurring costs - maintaining the machine, maintaining the trailer, having a large enough truck to tow it, insurance and registration for all of the above, your time or your employees time related to all of the above...even at $14k a year it might be attractive enough to keep paying that and having them drop it off at the job site for you.A brand new machine could easily cost you over 6 figures - that's 7 years of rentals at $14k/year before including all the holding costs.