If Jesus came back and got into rentals NO, N-O-B-O-D-Y get's admin access into our system. 2) They want a standardized list for maintenance items so they know in advance what repairs would cost.Being a PMc I'd invite them to acquire any of the readily available construction estimating tools/software out there such as RSMeans, but would not take on such a task as building and maintaining such a database, honestly for any $, it's simply not what we do. 3) They want a copy of all invoices from contractors to us so they can verify we are not marking up more than promised.A-ok. 4) They want to be able to talk to our contractors before work is done (each time) so they can talk contractors down in price themselves.I'd be fine with this as long as they sign a waiver that they own any/all negative impacts that result from such including extended vacancy periods, vendor refusals of service necessitating there own self-search to secure amicable vendor etc etc.. 5) They mentioned that they pay around $300 for full paint in a 2-bedroom unit.... we do not have a contractor that will touch a full paint on a 2 bedroom for $300LMAO!

In some states the 2nd may be uncollectible as it’s past statute of limitationsRegarding charge off, that has little impact on borrower - the lender is writing it off I.

This means to focus your time in the areas that have the greatest value & impact such as how to scale your portfolio vs working in the weeds on things like property management, repairs, rent collection, etc. 

I know many will say "that is commercial it will not impact residential".

If an actual tenant tells you something that impacts them directly you can explain it to them but I haven't had that happen.

However, existing properties may need updates or renovations, leading to potential additional costs.Key Considerations:Market Conditions: Fluctuate, impacting whether buying or building is cheaper.

All gains until time of death are gone within tax impact. 

And whether they find all of these little issues or not, it will still result in thousands of professional fees and many hours of your time to deal with it.Then you need to look at the other side, if you are mis-stating your tax returns, you will also end up providing bogus numbers to banks (also not a good one to lie to), potential investors, potential buyers, impacting the value of your properties by over stating your expenses...Honesty is a great policy. 

So the negatives mostly are accurate but not usually impactful for a long term hold.I recommend you (and virtually everyone) start local.  

In this couple’s case, painting the house white and adding a bedroom were game-changers.Prioritize high-impact areas like the kitchen and bathrooms, and add to the home’s curb appeal.