You'd have to spend another $1M for staff to maintain the place, haha.

The post was likely moved to our ADMIN area -- so the post is private for all but BP Staff and the moderation team.

Property management companies usually have a team that has a handy man, maintenance workers, cleaners, leasing staff and other workers.

., checking to see that the properties for the security are actually owned by the borrower and are the ones stated on note, no second or third mortgages, a visit by an impartial property manager on said properties to be sure they aren't burned out husks, impartial assessments to be sure the property or properties are actually worth more than what's being borrowed, etc...)

You may need to talk with the City's urban planning staff and the City Council member representing your district to determine this. 

Second, they lay off staff. 

One of our staff spends 20-30 hours aweek, monitering mls,  and doing analysis on potential deal,  writing offers on new ones, price drops, back on market, and everything that is still active, in the strike zone,  that we havent writen on for 21days. 

Here are a few things that are important to me (no particular order):The understanding that while you are the property manager you will be managed by meProactive instead of always reactiveTimely financial reporting, timely response to tenant concerns, timely action when tenants break the rules, timely feedback to meBe known and seen by the tenants (do property inspections, find out what is going on before its too late)Be firm but fairHave solid referencesOwn real estate investments (this is very important to me)Expert in fair housing, eviction process, marketing, tenant screening and selection, etc.Have an establish process and vendor pool for a large variety of repairs, be responsive to repair request (doesn't mean all request are granted)Think of it as a partnership (we make money together)Have staff that can step in (can't have a single point of failure)I am sure there are others but this is off the top of my head.

It would also be a good idea to take a trip to your local courthouse and visit the eviction office (aka "landlord-tenant") in your area to meet the staff and find out about the process face-to-face.

It's great you have so much faith in the American medical system, however; they are the same ones that allowed the Ebola patient  that stated he had been in Liberia, to be seen by medical staff, sit with unassuming patients, and then sent him home with "the flu", only to find out they had made a mistake.