On the flip side, if you've got a bunch of Section 8 tenants living in a building that's in a neighborhood where a lot of the tenant base has good jobs, high credit scores, and are generally reliable people, you've got the most risky tenants in that tenant base and that ain't what ya want.

Yes the penalties are high, so if people think they might be selling when they renew their mortgage, they get an open rate mortgage that allows them to sell with less of a penalty than a closed rate mortgage. 

I like his points about building a “team” and not actually asking people to be “on my team”.

Catch about 1 out of 3 people now.  

Stuart - we do not identity check the people who are signing up to post to the forums.

It's so important to surround yourself with strong people (i learned that the hard waY...) 

Here's an example why:- One of our people made a mistake last year, and entered an expense of $1500 instead of $150 - they accidently typed an extra "0". - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

Thank God the utilities weren't more expensive.So let's agree to disagree and count it as a lesson of doing business and picking the right people to be on your team! 

Golly gee ....some people deal in em.   

Thought about Stainless Steel wire, but tends to sag if people put their feet on.