It is not usually a passive investment, even when owning rental properties.

There are a couple of things that come to mind, if a payment is missed the lender cares, if the servicer goes out of business or misses a substitution of trustee, the lender cares, if the borrower goes to the lender to try to get removed from the loan (usually to buy another house) the lender cares, if the property gets caught up in a bankruptcy or divorce, the court cares and that means the lender gets involved.

Usually if it’s a revaluation where the whole town goes up in value you see the tax rate decrease and taxes stay the same or go up a little like yours did.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Most of the solid multi-family properties we find are gone in less than 24 hours and usually overpriced.

JayAs usual I agree with you.

Ithaca usually seems to have good intentions but this one is just short-sighted.

When I buy a property it is usually from someone who Really, Really needs to sell.

This usually works where there is a lot of garages.If you have the means to solve the financing challenges a tic/coop can be another sophisticated value add.Note this is just some value adds.  

I understand that placement fee if one month is often standard for PM companies, but usually a lot of work and effort goes into placing a tenant.