Now we're seeing major disasters in densely populated areas and insurance companies can't maintain their profit margins.

To thrive in real estate investing, you must maintain a firm grip on your finances.

That’s one of the highest growth forecasts in the country while still maintaining strong rent-to-price ratios.Memphis also has a resilient economy, driven by logistics (FedEx), healthcare, and a high percentage of renters.

If maintaining strong cash flow and minimizing risk are more important, Option 1 is the safer choice.Good luck! 

Offering to compensate them for their time can go a long way in maintaining a good working relationship.Let me know how I can assist further—best of luck with your project!

@Nathan Gesner I appreciate your work maintaining this platform for all of us to enjoy.

Quote from @Yaroslav Shtogun: Good morning,Some updates, we did home inspection and the house is not good condition since it was built in 1950 and was not maintained well.

I find that managers are somewhat reluctant to cut rents because they have an interest in maintaining income across the market, even if that means your property sits vacant. 

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

The hilly terrain is a main reason for this and you can't really see that on a map so knowing the areas is key.We have old housing stock as well so big things like plumbing and electrical can vary cost wise if they have or haven't been updated.