Since he's a one person shop (along with a super), he refinanced his 3 million dollar property and the bank required him to hire a property management company. 

It's a few hundred dollars, and probably worth it not to screw it up given the dollar amounts you are dealing with.  

I was looking at some online real estate courses and they cost thousands of dollars so thought it might be better to invest in syndication and get 15% or more returns.

Put a dollar value on you’re goal, determine an outline of a plan to get there, and determine how much capital you’ll need to seed the funding needed for your financial wealth accumulation plan.4.

You don’t have to research very far to see the widespread housing trends toward more micro-apartments, co-housing situations, and all the other ways people are voting with their rent dollar in wanting a better value proposition at the affordable end of the rental spectrum.Vacancy for an SRO can be kept quite low, and the density results in a very high cashflows compared to the same square footage of a triplex or 6-unit down the street.Utilities bills are marginally higher with the SRO, because there is no incentive for tenants to conserve.

I get builders risk policies for all my new builds and at least in the markets I built in Charleston SC  and Portland Oregon have never seen the fence and security and like you I would have trusted my broker to mention something like that.. fence and 24 hour security is just not something you do on ONE SFR rehab.. unless its a known high crime area like South side of chicago and now inner city Portland you really need the fencing etc other wise the homeless and druggies will walk off with everything.. when did a bunch of rehab loans in South Jackson MS same thing theft was off the charts and we had houses burn down .. but the dollars were much smaller.I know I have gotten larger policies for my bigger developments and I did pay my lawyer to go through them line by line and at the end of the day they really cant say what is or is not covered.Also you simply would not think of anything in Colusa county as being high crime .

Debt payment is due.It was shocking when Reagan had a 90 Billion dollar year.

It's honestly better than paying hundreds of dollars a month to a bookkeeper and wondering if they are doing it right, since only a handful of my transactions are every in doubt.

@Natalie Johnstone My former employer who was a privately traded company that owned over a billion dollars of real estate and had an ancillary management business with revenues that exceeded $100M annually would sometimes form entities in Delaware because business cases are tried in front of a judge w/o a Jury and case law that's applied to decisions is very well developed in the State.

The properties just end up going to the politicians friends for pennies on the dollar.