It helps that I start at 7 and finish up at 4, and my lunch break is flexible between 11 - 1 daily. 

Now, if the PM company is saying that the asset needs a lot of hands-on management, and they require someone to be on site daily because it is in a Class D area for instance then maybe that would warrant such a high fee. 

Aside from daily management, what else do I need to do?

Hi, I am buying a new rental property out of state and will be relying heavily on a property management to run daily operations for me.There are tenants already in the property and a property manager in place that the seller is currently using.Should I just continue with the same management company (considering the tenants are familiar with them) or use my agent as the new property manager (since he knows the property well and I have worked with him closely for a month now) or look for a completely fresh property management .Can someone please help me understand what’s the best thing to go with??

I read it daily. 

We have been going to our local REIA and I look at Loopnet and Realtor.com pretty much daily but seem to be having trouble finding good leads or a commercial broker.  

They do all the yard work and clean as part of their daily chores, etc. but the program charges a substantial amount of money that is paid by insurance companies, so they cram a lot of beds in each room because they are making money with more clients.

I'm seeing deals daily in the MLS, so they are out there, and of course if you pick a part of town that is likely to have a high rental or low income market, you should be able to farm the hell out of it and pick up some off-market deals. :-)

While yeah, each day on market, interest continues to accumulate (assuming there is still a loan) and/or maintenance costs accrue, taxes become due, HOA's may become due, etc. but, at least in this market, it also appreciates daily by some amount.

Key colony has it's own code enforcement to patrol 14 streets...and they do... daily.