I just haven;t built before.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

I agree with Jay Hurst's comment and the other comments about investing in far away places where you don''t plan to at least visit several times.

@Melody T. what was the outcome?

we do have to remember and I know its 10 years ago and many on this site are post GFC investor and know no better.. but were do you think all these deals came from... back in 2010 to 2014  it was not from well performing assets it was from stressed and failed owners. 

We found a 188 unit deal in Columbia South Carolina and Ryan had actually already underwritten it but he missed the fact that the T 12 actually only had 11 months in it instead of 12 so we caught it and Multi Family Mindset’s internal underwriter really loved the deal.

Even if you are focussing on appreciation, having a property that cash flows will help when the expensive surprise problems happen.Can't stress enough to take your time, learn as much as you can, and be cautious with your first investments (but try not to get analysis paralysis).

They just live T get you to apply and paper appraisals.

There's a BP thread on his SubTo mentorship. https://www.biggerpockets.com/forums/311/topics/862708-sub-t...Gator is about private lending wholesalers the earnest money.

I, personally, would be stressed about all that cash out of pocket though and would sell for piece of mind.San Diego, CA 2021 Real Estate Market Appreciation & Housing Market Trends - NeighborhoodScout