Especially and more specifically those working in our financial arenas who are completely confused and oblivious to this type of transaction, because it does in fact occur.

There are a couple of things that I would think about here, the timeframe you want to work with this agent (can be 1 month or 2 months or a longer time), whether you could do it for a specific area/city/town, or you could do it for a couple of properties you see.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

First start with a scope of work outlining in specific detail everything from work hours, who provides dumpsters and what is getting done room by room.

Some towns require a residential parking permit (sometimes on specific streets only within that same town) - you need to know what those requirements are and how feasible it will be.

Specifically, I’d like to understand:How to evaluate motel operations and what metrics are most critical.Best practices for managing or outsourcing day-to-day operations.Thanks in advance for your insights—I’m looking forward to learning from the amazing investors here and gaining a better understanding of this space!

I'm not an attorney or expert in AP specifically, but do have a working knowledge of it for Civil engineering/survey work and have had two projects where this came up and I was able to 'ride along' and see how it unfolded.First, if you 'know' the property has been taken by AP then there's nothing for you to do with the tax assessor etc.

@Matthew McCarty and @Aileen OuyangInvesting in anything is specific to each individual's goals.

This is a touchy subject.If you observed specific concerning behaviors during interactions, such as rudeness, aggression, or disrespect for property, these could potentially be valid reasons for rejection if documented properly.You should add one very important things to do on your checklist, past landlord references and it must be legit and find out why they aren't there any longer.

You find the numbers, and strategies that work in any specific market you choose, then wait until a property pops up that meats that criteria, and jump on it."