@Ian RadcliffeThe BreezyLand Team has been in the land business for 4+ years and does land flipping/wholesaling and minor developments to sell to home builders.We went through all the ups and downs, did mailers, text msgs, cold calling, ringless voice mails, the works - until we had enough of that cash bleeding.

REI is just starting to bleed.

My #1 property management customer are folks just like you - built a spec house, can't sell it, and want to make it an annual rental to stop the bleeding.

I agree with Adam that there's not enough information here to say who is at fault.If you are spending all your income on maintenance after three years, then I would say you are being cheated by the PM or you bought a real dump.Personally, I would suck it up and find an expensive, but reliable, contractor to visit the property with me and make an assessment of what needs to be done to fix the property and stop the bleeding.

Getting them out will at least help to stop the bleeding.

I'm bleeding money every month!"

Tenant has notified me that the noise coming from the floors above is loud. I know that is probably just a normal and natural part of apartment living, but there is very squeaky floorboards right above the tenants bed...

Turnkey rentals on the mainland don't hit 1% RV anymore so might as well bleed cf in Hawaii. 

Then, we got the Woke, Bleeding Heart Judges and with a letter of hardship at Mediation the Deadbeat, Single Mother with kids and Older ones on Fixed Incomes could get another 90 days to stay for free.

At 6-months no rent you're bleeding money.