@Alba Cheung It would be nice if you provided us with an update.

This amount provides a reasonable safeguard against potential claims if something goes wrong, like an accident or damage to the property caused by the tenant. 

So, in actuality the divide between “good” PMs and “bad” ones is probably no different than any other service provider, be it real estate broker, mortgage originator, etc.The key word I has in my sentence was MAY; as in MAY be hazardous to your financial health.  

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

The right agent will provide a pro forma breakdown on every property they look at, have repair costs estimated, CapEx, etc...

Ensure the state provides a clear title upon sale.

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

So, you are working through 2 decision makers, not one.A Realtor can really provide you value in a transaction....especially your first one! 

Unfortunately, this problem waste a lot of my time that could be spent on other investments.I have used the same tax professional for many years and he is very educated, but also much older than me and it's hard for me to understand all the reasons he has expressed why is better to put the rental on my personal tax returns.

I'd like to simply buy a turnkey rental and make cashflow but I understand that's easier said than done and turnkey properties likely won't provide me ideal ROIs.