This is not some foo-foo "follow your passion" dream; it's a realistic way of finding out what motivates you, discovering what financial opportunities exist in that realm, and working in the areas in which they converge.

We were not there often due to travel and had no pets, apartment was returned in the same condition that we received itI am wondering if a normal wear and tear allowance calculation is something that actually exists and by law they need to provide the hourly rate breakdown and what was cleaned correct?

All of these are useful, but how useful will depend on your existing real estate experience when you sign up.Is it useful?  

It gets over saturated quick.

All existing tenants.

And lower rates won't fix that.Prices going up help that a bit because then the premium to buy a new construction home and pre-existing home isn't as great. 

Sure, the fill time can be almost non-existent, but you also may need to abide to standards accepted by the previous property owner.

The market in Florida is crazy and the probability that you find a deal on the MLS is almost non-existent where I am.

It exists, I've done them.

Back in the day we carried a balance of $100,000+ that was owed to us and that is now down to only $10,000 or so and we only cover out of pocket if it's an emergency.The PM must have sufficient reserves to do the necessary maintenance work and shouldn't be chasing landlords for money.Just my opinion...Also, a PM's number 1 profit center is maintenance up charge.Landlords don't have much insight and PM's nickel and dime to death on those.If you are suspicious, ask for a receipt so they aren't making up non existent maintenance.Let them make their money tho and calculate that into your expense pro-forma.Otherwise, manage yourself and deal with the $#%^@ that comes with it lol.Multifamily in Ohio, you can get for $25,000 - $35,000 a unit.Drop another $5,000 - $10,000 into the turns and rents should be North of $800pm.Decent area's also.Personally, I wouldn't get out of bed unless I'm making the above numbers.Wishing you much success