To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Most also have podcasts and I expect youtube videos, so you might check out some of those from each person before you commit to $20,000.   

You should be expecting at a minimum 8-9%.

@Bo Goebel Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

@Sanjida RabbaniRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

He's saying he is expecting the REOs to start appearing in 12-18 months, I was thinking 6-12.

This helps set the right expectations as we are not in an easy cash flow market.

What is the expected rent, and does it need to be rehabbed?

Once you get this first location done you will start to snowball.  5 years from now expect to hear about your trip or activity your doing because of self storage.   

Do they understand an investors point of view and expectations?