That additional review layer definitely can add value in oversight and deal selection.

If I would have used competent management, the manager that I picked and vetted, then it would have cash flowed, assuming they could have filled the vacancies.The big lesson I learned is that the property manager selected can make or break a deal. 

Funds are offering notes on preREO in both judicial and non-judicial states, so the local investor selects the disposition strategy, with AHP Servicing and Activist Legal available to assist. 

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 definitely plan on building a team in the market we select. 

To protect this community, they are selective about the people bring in because we all want connect with people who are motivated, committed to the process, and excited about being part of a real estate investing community.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

I am primarily concerned with completing renovations in a timely and satisfactory condition, so I foresee the selection of GC looming large in my project's success.

I now am more selective about loan officers as well as lenders. 

Have a list prepared around a nice area of houses that you have selected that will fit your criteria....maybe see the insides of one or two?