These firms specialize in this type of work, and as such, we rely on the information we receive from them to make determinations on how much capital we advance for improvements made to the property.In this case, we believe the third-party inspection company did not perform their duties.

I ran the numbers, negotiated a price decrease, and then performed inspections and purchased this package with cash.

I ran the numbers, negotiated a price decrease, and then performed inspections and purchased this package with cash.

Has anyone on the site performed a transaction that required it? 

If you find a property, the PM can look at it and give you a better idea of how it will perform as a rental, whereas most REALTORS haven't a clue.

Similarly, do you set an hourly rate for light maintenance performed by the PM? 

Research their performance over the years and check for any complaints or legal issues.Verify the success rate of the loans they have funded.

Once you've had a chance to see how the property performs, you can revisit the idea of giving up your W-2 job.

IMO your safety from an investor standpoint comes with building a large portfolio.If you can keep it "under the same roof" even better.Less people to speak with and less drama with logistics and correspondence.The bigger the portfolio, the safer and the better ROI will be long term.Our most unsatisfied investors are the one's that own 1-2 properties and get pissed off with me and my company if they go vacant.Unfortunately, turnkey providers aren't magicians or God and can't wave a magic wand and turn 2 properties into 10 over night lolFolks that own 7-8 or 10+ properties with us aren't bothered if 1 or 2 are vacant, as the others are still performing and cover any losses on those that aren't.Thanks and much success

What tasks would you ask a lawyer to perform?