It should take rare events such as Great Recession or Covid to under perform an underwriting.  

If a Cost Segregation Study had not been performed on this $3,000,000 RV & Boat Storage Building located in Fort Pierce, Florida that was purchased in 2020, it would have had first year depreciation of approximately $10,225.

I was hoping it was going to perform well, since it is in a lakefront project, just South of downtown.

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!

But if your properties aren't performing well, then you can look into selling and buying rental properties that perform better elsewhere.

Investors way more experienced than me suggest building a portfolio of high quality properties that produce well instead of a ton of low quality under performing properties. 

I believe if you use a quality PM the financial performance will be close to self managing an LTR.Good luck

I am extremely handy with a vast collection of tools so can perform improvements myself.

While I am surprised at that, I also think it is the proper way to view real estate.I always go back to my first vacation rental purchase as an example:  In 2005, I bought a beautiful, 2-acre creek-side cabin in Cosby (near Gatlinburg) for $240,000. 

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!