You're gonna get your houses robbed a lot.

It is too easy to just put the house on the MLS and sit back and wait....sometimes this works and sometimes it doesn't.....but to only do this is just dumb.I would take charge of your listing, wven if you use a Realtor.

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

My problem was by that time so much was owed, it was more than the house was worth. 

I had 5 houses with them that were terribly managed (placing bad tenants, extremely high rehab costs). 

@Jason Weidmann admire your all-in approach!

What made you interested in investing in this type of deal?

@Nathan Gesner I like in CA, I’m scared of snow… unless I’m on a snowboarding trip!

Whether that is staying in the family business or doing something else.

Do some research on this practice and on this firm before diving in.