To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Thanks @Don Konipol, but I can’t take all the credit here.

This is the reason I quit being a moderator because of something that went mildly off the rails in the forums, and then it was completely censored because I responded to staff in the forums after they mentioned me.I think the moderators do an amazing job and should be given more pay or credit or anything.

Turned a single family house that was poorly marketed but in a great area of my city, listed mid-winter where there's less competition, into a duplex for all intensive purposes and used airbnb to rent out rooms.

We worry about the hassle of dealing with properties in poor condition and not building enough equity.

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.

Unfortunately, people in the trades are often good at their trade but poor at managing their business.

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property.