I think when you hire a PM you have 3 choices 1)  A very small local provider (<15 units) and they tend to me 1-2 person operations, they are the one unclogging toilets, answering guests, etc and it is tough to do everything, so things lack. 2) A large/nationwide provider where you are only a number and they usually lack local resources 3) A mid size local provider who have resources and you are not just a number.Through effective revenue management with a revenue manager, and being listed on 15+ sites including Marriott Homes & Villas, JetBlue and Allegiant Airlines, Hyatt and Amex Travel (coming soon) we are bringing in more revenue than most can self managing, offsetting our fee.One of the top questions I tell people to ask their manager is the fees, who keeps them? 

Must we forget the other federal agency, the Federal Reserve, is in a highly restricting posture right now, holding interest rates at historic levels to slow inflation.

Lack of signed off permits may be to my benefit should things turn nasty. 

The contracto I used needed baby sitting and the attention to detail was lacking so half way through the reno I was more particular and communicated my expectations clearly and ofter Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lack of cash / over leveraging sounds like the concern from what the post states.You could flip but you need to know the market your are flipping in and time line rehab is going to take.

When you know what to respond to your clients and what to ask, and feel you know your real estate scenarios and can answer confidently, that’s when you start getting listings and buyer agencies signed.

They are doing other construction stuff around the house that does not need permits and the quality of work is lacking in some areas.

Can the cleaner file a complaint for non-payment because I assume the payment is by the PM agency to the cleaner?

There's a lack of a reality check.If you're looking for quick money, expect a quick downfall.

Since there is a lack of regulation, many lenders may change the final settlement statement once all is said and done, which can result in a higher rate, more fees, and/or a reduced LTV.