In order to align your goal with theirs you SHOULD pay them a percentage of all revenue - rent, late fees, water charges, parking fees, pet fees, etc.Second, the PM isn't taking anything, they are earning it by doing the things that the owner cannot or does not want to do.Third, I don't know of many PM's out there that actually want higher expenses for the owner.

If not in the city, and not in the ETJ, then it's a lot easier, provided you can get water (probably need to drill water wells so thats a separate ground water district) and sanitation (some sort of onsite sewage treatment).

Talk about how good the schools are, how close to the beaches or other attractions, Size/type of kitchen, ease of maintenance of swimming pool if in place or jet powered swim lane, Covered parking if so, etc. 

Would it devastate me financially to get that $1800 bill for replacing a hot water heater ?

Also with the new policy changes with CMHC high ratio mortgages first time home buyers will have a much tougher time buying their first home so the rental pool will increase leaving more people looking to rent.I currently hold two rentals one in which is an owner occupied rental which I purchased for 200k 7 years ago and it is worth around 275k today and this year I purchased a triplex as well for 250k and as is with no improvements this yields me an 8% return a year which I would say is quite low.

How is water split? 

We are having our roof replaced due to storm damage, however, when the shingles were removed another storm came through the area and caused a significant amount of water damage inside the house.

I probably won't book any place that does not have instant booking turned on in the future.If I am not mistaken, instant book is a search criteria on one of the platforms, and if you are not doing that, then your pool of potential customers is smaller by some degree.  

I just sold one of my OREO in Jackson MS.. 1 year ago as a vacant house needed full rehab I might have gotten 25k from a local for it.. just went into contract last week with a hedge fund for 71k NET to me they pay all costs and back tax's.. so something is in the water. 

Borrowers many times especially if they are newer actually have no clue as to how bad it can be with these investor friendly lenders if you have a water landing..