@Calum ShallenbergerRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

@Marcos De la CruzRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

One of the things I love about real estate is most mistakes go away with time.

Are there mistakes you've made that should be avoided?

Would I be making a mistake paying the $997 for the Bnb formula?

I just want to make sure I don’t make a mistake by listing it without having anything in writing.

Several owners have posted here on BP, that they made the mistake of paying the CFK funds to the nonpaying tenant, usually duped because that tenant claimed they needed the money to move, and then the tenant did NOT move out:(So, our CFK process requires them to sign acknowledgement forms about the process, which we've actually been able to use in court against the tenant when they don't follow thru on the process.SECURITY: always a challenge in Class C & D areas!

I won't say you will never make the same mistake again but I'd bet money on any of your next deals you don't make this mistake again.  

@Terry LandonEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

"Since you’ve offered the $300.00, honor it"That I believe is a mistake, they burned that offer when they got greedy.