To me that is negative cash-flow, because I include hard and soft expenses. 

And $5,000 poorer.Over the course of our relationship, we barely used 10 hours of their time, including the onboarding, the meetings and email communication.

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?

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report. hmm, that website is a 404 error.  

We actually CAN'T explain what we are seeing if we are operating on the "purely rational actor" hypothesis (as you implicitly observe), we MUST include highly irrational and emotional individuals to explain what we are seeing.- Investor uncertainty.

On the lease, he'll pay me $100/m over my HELOC payment and all other expenses, including the refi cost, inspections, title work, etc... 

Amenities include, laundry, assigned parking, and wifi available for each unit.

Quote from @Collin Hays: I don't manage short-term any more, but can't you include this in a written rental agreement that the guest signs at the time of booking?

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.