Make sure the home has quality furniture and items that don’t fall apart in a few years.

Honestly the high fees combined with lack of transparency and high appraisal costs, a whole month of UW (longer than normal), etc. would make me want to switch lenders right away because IME the lenders with high fees and high appraisal costs who drag their feet like this also tend to be the ones to continue delaying, have things get stuck in underwriting, say one thing while delivering another, have poor communication especially between UW and origination, bad customer service, can't close when they say they will, etc. and it can be a total nightmare. 

If the investment was a poor one, continuing to lose money on it is...just losing more money. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I would not due business again due to the nature of the financing terms and the home quality.

Having a reliable team of subcontractors that you trust to deliver high-quality work within your timeline is vital when you begin your building projects.If construction is a new area for you, I highly recommend finding a mentor in your region.

These upgrades not only improved the property's overall condition but also positioned it to attract quality tenants What was the outcome?

There are different opinions about how to interview and locate a quality PM.

This could result in higher quality tenants sooner and keeping them longer, all which have more than quantifiable effects. 

I have a solid PM, who manages a property for us a little more south, who is not too worried about the property being in Olympia, and says that if he places quality tenants, there shouldn't be an issue.