It keeps everyone on the same page.3) The downside of using a PM who has their own maintenance company is that you might end up with larger bills as it is a profit center for them.

Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager.

I charge a completive market rate while providing a really good service. 

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

This was my second foray into real estate investing, the previous one being through a “full service” turnkey provider.

Begin a maintenance schedule ASAP.

Hey Barbara, I have a property manager I can recommend for the LAIC service.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

I started my career with the renovations team renovating the houses we buy, and with the property management company working with our residents and our maintenance teams.