Multi-family without separate meters may need more unique billing arrangements such as passing the costs through to each tenant on a square footage basis.As far as insurance, landlord will have to maintain their own insurance per mortgage requirements.

Also, most states require at least an annual inspection of the facility by the state in order for the company to maintain their liscense.

In fact the city of mobile has argued in court that you have an obligation to secure and maintain.

Maintain a relationship with the broker/lender.

The PM is going to manage the property long-term, so they want to ensure you buy something that is in demand, we maintained, in a good neighborhood, etc.

We value a long term win-win relationship, well- priced, well-maintained homes to ensure solid tenants as well as respect for our finances and investment, so the PM has to be of the same mindset and ability to perform.This has been by no means passive because things come up that have to be addressed, and a lot has to be organized, optimized and tracked.

@Andres RuizDeposits: Out here in WA we need to maintain security deposits in their own trust account, separate from other funds.

I grew revenue to over $1M in the first year without external capital or debt and maintained a growth rate of 20%.

If they want to live in a well-maintained home, they will comply.

Placing such trust in me in this town where 1) I want him to bring more such deals to me 2) have a reputation in this market to maintain makes more sense.