For example, this investor that I met recently said not to buy properties at tax auction for 100+ different reasons.

Honest... not great but we had other tax reasons to get into them.   

When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

Hey @Ricardo Polanco - has the inspector provided any reason for the constant follow ups? 

Reason being is that I'm not a US citizen and I do not live in the US. 

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

At the pro forma income, the cap rate would rise to 8%, which is more reasonable but only achievable after renovations.

Additionally, any existing restrictions at the town level (there are MANY) will be abolished, unless deemed "reasonable" by the state.

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

Bad contractors are one of the main reasons why first time investors never do a second deal.