Currently, I own my primary home and a rental in San Antonio, TX. 

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

I don't have any specifics but as someone who is into tech, accounting/finance, and a consultant to grow businesses.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

No problem, I had cash from a refi, a HELOC, and a personal LOC.

Great way to build a business and a rolodex of listings/sellers.

I found what seemed to be a great property with a house for an STR and other space that I could expand for camping/RV sites and a barn that could be converted into a venue for events. 

The fear of renting while out of town is common, but it's easy to overcome, especially when you have friends and a handyman.

I have one near a homeless shelter and a liquor store.

Spear's comments about required capital improvements as they relate to rent increases and a captive audience/ trailer trash mentality.