Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

As the cash flow is obviously much worse than you can earn in the bank with a basic CD.

So I'd be pulling equity at 9% and only get paid 5% if I used the HELOC and kept the cash in my high yield account. 

Purchase price: $144,900 Cash invested: $13,000 This is a charming 4 bedroom, 2 bathroom home in Bossier City, LA.

So back to being a real estate investor: the only way to be one is to buy a property and create value out of it, whether through finding a below market value house and selling for a profit, or renting and creating cash flow.  

At this time, I am having to pay all cash in order to close.Purchase price is approximately $600k.

HELOC: The Best Tool for Smart InvestorsWhy It Works:Pay interest only when you use it.Got extra cash?

Real estate is easy to get into, but hard to earn a living. 87% of all agents quit within two years because they don't make enough money.

It’s great to be trusted with others hard earned capital but I only accept that responsibility because I KNOW I can do the job - that I have done the job over the years. 

My suggestions:* Requiring code compliance and safety equipment is absolutely valid and should be part of the regulations* Requiring owners live within 15 miles is not necessary since poor hosts whether they're local or distant will violate the 3-5 warning system and earn a suspension.