Compared to a mortgage broker that adds on so many fees for the same loan.

Compare those owners with younger owners who have higher incomes and more desire to build large reserves for the future with the older folks who won't see the future and you can see the problem.

No matter the market run your numbers and make sure it makes sense for that local area compared to what you can expect.

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

If you are buying turnkey, buy under-value compared to comps.

You can win most tax appeals when your taxes are just out of whack for comparable properties so if you can find examples of similar properties with lower taxes, that is the only way you will win.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

The account fees are minimal compared to the potential gain with most syndication offerings. 

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.