Obviously this number changes based on each person's life circumstances, whether they have other commitments to attend to, Etc.For most people property management is a luxury, not a necessity.

Good PMs understand the necessity of speed and accuracy in PM. 

The house currently only has one tiny bathroom (with a tub/shower), so having another bathroom is a necessity.

They won't pay much, if any extra for it.For a family of 4-5....almost a necessity! 

Be the guy/gal who does the better Brrrr, uses higher standards in rehabs, and maybe wire up for backup generator (renter/buyer can purchase, plug in, flip breaker, and turn on to run limited necessities).

Our attorney there recommended that we register our LLC to do business in IL and that would cover most issues.Licensing and compliance can be tricky things and you have to evaluate the risks and necessities of being licensed vs unlicensed.

The re-platting process was tedious, slow, and filled with seemingly meaningless bureaucratic redundancies, but BECAUSE the land contained the basic necessities for frontage width and resulting lot size it was a fairly straightforward affair.IF you didn't have those two boxes checked for your particular area, you'd be looking at a much, much more tedious affair. 

Our units we require 3x rent to qualify because we do not want the tenant to be so on the edge of what they can afford that if anything goes wrong they are deciding between paying the rent or purchasing necessities like food.  

The other thought it would actually help their businesses since the rents of the new builds would by necessity be MUCH higher and the existing stock with relatively low pricing wou;d look so good that they’d be able to raise their rates.So after 10 years, here’s the result: ALMOST NO EFFECT.  

I'm still looking to buy rental properties (there are more and more deals appearing in my market - I mainly buy C-Class) but I'm also waiting on buying a SFH for myself as I moved back to PA from MO - and home prices are mostly delusional in my market (as more home sellers have listed not as a necessity; a good amount - according to a realtor I speak with - have listed to see if they can get top-dollar).