Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

The broker/LO misses something that gets caught late in the process and blows the loan up.

They found that targeting traveling nurses and medical residents provided reliable income, especially with amenities like a washer/dryer and blackout curtains.. details that are often overlooked but highly valued.For STR potential, I’d suggest researching local tourism data.

This process is repeated over and over and over. 

I want a good turn key property that can be set up with a management company and I would like to repeat this process at least two or three times this year. 

This can be a very long and annoying process and you're not guaranteed to get approved.

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

I know from BP podcasts that mistakes are part of the process, but I want to avoid anything that could jeopardize my family’s financial stability.Despite these concerns, I’m ready to dive in!

It's a long-term learning process, but an interesting and often profitable journey - best of luck to you!