The message to the PM gets lost in the mix or isn't follow up on for repair and the tenant or guest gets injured by the broken step.A plaintiff's attorney is going to name both the property owner and property manager to the suit because that's just what they do.

If it's vacant and really needs cleaning/repairs, then I'll wait until it's more presentable.2.

Which is code for- has a great profit margin after expected repairs.  

nor is pesky repairs that don't show up until a few months or years of a tenant living in a property.i say all this not to discourage you but to arm you with facts. i don't want you to be surprised like so many others are.and: partnering, tapping into equity, anything else 'creative' just means expensive. 

I will have a chance to exercise my creative deal-making muscles early that will hopefully serve me well in the future.  

The key is to make sure you purchase your the home at the lowest cost and know what your after repair value will be to see if you will actually be able to make a nice margin after netting all cost.

To answer your question, Accounting when you have a PM Company in place is tricky because your bank statement may only show a payment of $800 but in reality that may be the result of $1,000 of gross rents less $100 in PM Fees and $100 in repairs made on your behalf.Best of luck.

That could be anything from not accounting for capex/repairs/vacancy in their calculations or a complete lack of knowledge in how to calculate their future property tax obligation (this is a big deal in Michigan).Just the other day I had a call with an investor looking at a 10-unit property in Detroit.

Most repair calls with STRs are "emergencies". 

You might be able to find a local handyman or painting company that has someone on their staff who is really good at blending things in.If you're looking for a first class repair, someone like that is as good as gold.Good Luck!