I tried to evaluate pros and cons of both options.

Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.

I get updates on the progress weekly if not daily about my rehab.

Still in progress!

And if you really thought it was a dangerous tree you might want to get something to prove it before it falls down (evaluation from a tree company, etc) and send it to them certified to the address on record with the county for the owners.  

Underwriting will want to see some progressive experience in renovations, but as long as your not taking a quantum leap, it should be do-able.

Thank you for your insights and for pointing me to resources that should be reviewed so I can build a model in Excel to evaluate this decision. 

I went the low income route; C neighborhoods, very slow revitalization progress, and lots of government assistance tenants that aren't stable enough to stay long.  

Also, business cards are evaluated differently and high balances aren't treated as severely, if at all.My main concern is how to structure a deal so these get paid back in a timely manor.

It is important to conduct comprehensive research beyond Zillow; you may want to hire a professional home inspector to evaluate the property's state and repair requirements, as this information will affect your offer.