I think that a concern of mines is what happens in the event of a performing note going non-performing. 

Starting to get set to invest as a beginner and would like to keep all options open locally.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

They want someone with eyes and ears onsite for you because you being that far away how do you know the work is being correctly performed?

If they try and back out and the closing date in the contract passes and they haven't performed, the title company has now satisfied their requirements to release that earnest money.

Some of them performing and others non performing at a deep discount. 

Because it really should be called Vacancy/Tenant nonPerformance+Damages.In ANY market, if you target the cheapest prices you will get the WORST: Neighborhoods, properties & tenants.Doesn't matter how smart you think you are or how hard you work, you will NOT get Class A performance from Class D!

It is allows sourcing deals from anywhere (not just the deals from the party that runs it and who is trying to channel investors into it), and allows people to perform real, collaborative due diligence to poke holes in deals (and isn't just a "rah-rah let's go" for preselected deals), etc.It sounds like you're looking at the first type of group.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

New investors tend to stress out for years about their first deal or two, and then when it comes to the most important peice of the puzzle regarding how their property will perform and how passive their experience will be, they get lazy and don't develop a process for screening.