Lenders desperately need/want business especially in this interest rate environment (right now, the main source of mortgage loan business in Florida is rehab financing as a result of the hurricane damages) and one way the big players differentiate themselves is by streamlining the process.

Make sure to do your due diligence when selecting a property management company to hire.

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

It sounds like the 2 BR floor plan makes this process even more difficult.

As far as whether to approach them with or without an agent - approaching them directly without an agent can save the seller probably 2.5-3% of fees, which give you some room to negotiate on the price, but you need to be confident that you are capable of evaluating the property value, estimating on the amount of work that is needed, knowing how to negotiate/ structure the deal, and navigating the closing process.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

Fortunately, the seller was cooperative and patient, and we only lost about two weeks in the process.

Cut your losses the first time they miss a payment and start the eviction process.

All my properties are paid off, I did try to go the rout of hiring a property manager (two actually) and it was sooo bad.

They couldn't get a construction loan and were constantly blaming the cities being tough on their permit process.