If the pipe is 50 years old and had a life expectancy of 30 years, they're going to argue it was due to lack of care on your part and try to deny the claim. 

We had a client that bought in Port huron and then ended up selling their property because they went through 3 PMCs and gave up trying to find a great one:(Some copy and paste advice below:--------------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I would not expect a meaningfully lower rate and pmt for likely several years. 

We got our required and expected profit that we calculated at the very beginning.

When I go to get more work done, I use the person that was fairly priced and met my expectations that first time, I do not shop around again for the lowest deal.

- Trying to meet the unrealistic expectations of newbie investors is tough/impossible for even the best PMCs!

Expect rates to be higher with CLTV capped at 70%. 

@Dave AllenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If the marginal cost increase in buying a house that can be house hacked (a house with a basement, a duplex, etc.) is less than the rents you expect to bring in from renting the additional space, why not do it?

Neither path was completely hands-off, but the returns turned out higher than we initially expected (despite all the lumps and bumps along the way).As for Lakeland, I think @Andrew Haley's observations about mobile homes are spot on.