No matter the market run your numbers and make sure it makes sense for that local area compared to what you can expect.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

If you are buying turnkey, buy under-value compared to comps.

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.

The account fees are minimal compared to the potential gain with most syndication offerings. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

The area seems to be appreciating by $50k each year looking at previous sale’s and comparing to Redfin/Zillow current values. 

The rates on the 4 unit are astronomical even compared to what the current owner is paying (about 190/mo).

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Compare the STR PMC managed numbers to those for LTR PMC managed.- The numbers may have an impact on your decision.You may also want to read your condo's Home Owners Association Master Deed & Bylaws to make sure there are no restrictions on any type of rentals. - Many HOAs have LTR restrictions and some now have implemented STR restrictions.Also, hopefully you've updated the home insurance policy of your current STR rental from a homeowner's policy to a landlord policy.