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.

Many traditional banks won’t touch them, and even DSCR lenders will avoid them if the build out is done prior the securing long term debt. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each.

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My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.

If I were in your shoes based on what you told us, I'd probably avoid hard money loans right now.

Could you send me your email (feel free to format it like “name [at] domain [dot] com” to avoid filters), and I’ll send you the link directly.Also, I’d love to hear more about your background:How long you’ve been in property managementIf you’re currently involved in multifamily investments or looking to expand into that spaceWhether you’re exploring tools for your own portfolio or considering something broaderLooking forward to hearing more and seeing if there’s a fit!

You may also want to consider hiring a land use attorney or consultant to help navigate any zoning changes or entitlements needed for your mobile home park.When sourcing land, focus on parcels that are already zoned for multi-family or manufactured housing, or at least close to it, to avoid lengthy approval processes.

Understanding the markets to avoid, what laws to watch out for and selecting the proper strategy that goes with property plays a huge part in this.