Learning that the slower I move, the more money I lose.

I’ve watched investors lose momentum by sticking to a single city’s slower regulations when a neighboring municipality was more open to new builds.

Feel free to DM me if you'd like more insights on all this (we don't do biz in Alabama so got nothing to lose).Here's some other "copy & paste" advice on how to search for a better PMC:----------------------------------------------------------------------------------------------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.

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

Nobody plans to lose their property.

@Hedman Maximus too many investors worry about DIY pennies, while losing dollars - which it seems you may be doing.Why can't you hire a PMC to handle the properties for you?

Just like doubling down on a bet you could lose it all. 

You can still lose your investment in the LLC.

If you go this route, be aware that you’ll lose payroll deductions—so you’ll have to track contributions on your own (see IRS Publication 969 for HSA rules).2.If You Own a BusinessIf you’re running an LLC or S-corp, you might be able to fund an HSA through that payroll.

It's no wonder they ditched the master lease structure - easy to see now how they were losing money on it.