I never saw a contract but if i had to guess I'm sure it says something like "if you don't make $500K it's not our fault and we are keeping your money".

It hurts the tenants ability to find another rental, nobody wins, and it takes forever costing you money. 

The checking account can act as the home for the funds until you deploy the money into and investment, then all expenses and returns flow from and into that checking account that you control. 

I figured why not just use a banks money instead of using a customers money and not have to deal with picky customers.

With conventional financing becoming more restrictive, real estate investors may turn to hard money loans for acquisitions and rehab projects.

If you don't want to separately meter for gas (which would be expensive but you would recoup the cost many times on a long hold), you are going to constantly be feeding this alligator of tenants wasting your money with liberal use of heat. 

Are you sure there is no one within 10-20 miles who would like to make money cleaning it and checking on it? 

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.

Fortunately, I have found investors and contractors that are active investors and do try to see it from my perspective on how to make money in the deals but I agree with the extra opinions and "trust, but verify"

When you get a call from mulitple tenants that the toilet is clogged and you have to unclog it, try getting your money back.