Then there are the challenges with Section 8 tenants paying utilities and taking care of their rental property.

It can be time-consuming and challenging if you try to do everything on your own, so partnering with a trusted team can make all the difference.

I want to make sure the PM can handle challenges--that's why we hire PMs!

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

I'd challenge you to scroll through the forums here to see all of the self managers who are dealing with nightmare tenants and situations in order to save a few bucks per month on PM.

Challenges?

I'm a local Denver agent primarily, but I'm familiar with some of the challenges up in the mountains because no deals make sense running the quick math. 

The challenge with unsafe areas is (1) potentially higher cost of maintenance such as broken windows, etc. and (2) this is by no means meant to be discriminatory but anecdotally from people I've spoken to the challenging tenants tend to be at the lower price points.

What challenges did you encounter in fund formation, compliance, or deal structuring?

Challenges?