Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes. 

This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

In addition to this, I've had 2 clients this past year tell me they used Airdna in '22 and '23 to see projected and estimated income and was drastically different than actual income made with very comparable properties. 

In addition, if i used fixed rate financing, my biggest expense is fixed.  

Unless you are planning on investing in your back yard and have extra time to spend, getting a good PM is very important.  

On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.

Continue with a viewing, additional questions, get applications, run ALL checks, and then make a decision.By being very clear about requirements, you will catch most early in the process and can let them know.

If you ever want to discuss strategies, share experiences, or need additional resources, feel free to reach out.

Additionally, when a problem arises, those problems get addressed and all parties involved are updated.Being a property manager is a hands-on / high touch vertical.

In addition to being illegal, if we had not caught this, (thanks Diogo!)