You may need to have survey performed on the property that might be paid for by you or by the seller or it may be common practice in the area for particular pardon you to pay for it.

In the end, I likely lost a good chunk of time and money by choosing price over performance.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

That comment specifically relates to the investors who believe they are better protected by having a separate LLC collect rent and perform management functions independent of the deed holder LLC.

So far, FTF has performed as advertised and I get timely and thorough reports on status for each project with financials, progress, risk profile and photos.There is a bit more risk associated with these one-off investments, however the low entry makes that more tolerable.

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.