A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I have people who will buy in areas that look not good at all but have great upside to be "pioneers" of an area as well.

I'd look at that as well as the Zoning Ordinance and Subdivision Ordinance, which every Pa township, borough or city has, or if they don't have those docs, they are covered by the county codes.

Just run your numbers well and make sure you are in an area without prohibitions in place. 

I own properties in Cleveland and have done well with them.

Well.  

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

There are a lot of regs, but at least they are well defined.

Companies tend to do well when they professionally respond to negative posts, and either provide their version of events and stand their ground, or do what it takes to turn the angry poster into an ally.

So, older homes have a higher frequency of claims as well as higher severity.