I just completed my first rehab deal, and I still cashflow, but I can't afford property management without basically negating the rest.

We're starting to cash-flow negative but it's been 6 years.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

. - Many are okay and actually understand DIY PM is not for everyone, but there are some that only have negative comments about PMCs.2) Owners & PMCs that promote hiring professionals.- Some PMC members are only here to promote themselves and don't offer much of value.

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Great assets (cashflow and appreciation, low to no cap ex), steady (low cash flow, good tenants, slow appreciation, low to no cape ex, and dawgs (low to negative cash flow, lots of cap ex coming, aggravating tenants).

In fact, I recently used one of the methods from the book—where Chris Voss talks about "going negative" to soften the blow of an offer and make it more palatable.

You never know when interest rates will go negative.  

To do it safely its a niche and one needs to be aware of all the things that can trap you and cause you a negative experience..