They typically don’t go above 50% ltv and usually pay cash for the properties.The only people who would do this is private individuals with deep pockets.

I am having a hard time finding information about this topic and wondering if it’s worth the deep search.

One of the reasons I asked the question is that it seems strange to me that a property management wouldn’t take anything upfront if they inherited a house that wasn’t ready for rent .Our property management also does the cleaning ( deep clean over 4 days was $1000 but they had to deal with some nasty pet hair , fleas etc)and that included some cover up paint etc .One lesson learned here is every contract with owner : property management varied greatly it seems from what is needed .But moving forward - I feel that $500 a month on a $2100 a month property is too high once it’s rented - unless endless problems persist of course ..thanks for your insight!

That being said, In order to successfully invest in the city of New Orleans you must have a fairly deep understanding of the city.

Market in a MinuteEast Tennessee home sales decreased 7.8% from the previous month, and decreased 1.0% from a year ago.The median sale price was $371,250 — up 9.19% from the previous year.Total housing inventory increased from the previous year – up 38.3% from a year ago.Half of the homes sold were under contract in 20 days or less, up from 11 days a year ago.40.55% of homes sold for the asking price or above, with 18.77% selling for more than the asking price. 8.04% sold for at least $10,000 over asking and 2.88% sold for at least $25,000 over asking price.The sale-to-list price ratio decreased from last month to 97.5% – down from 97.9% a year ago.New construction represented 12.36% of total home salesData Deep Dive: How's the market?

And it may be worth spending a few hours deep diving into other PM's - talk to other investors, look at Google reviews...surely there have to be a few quality PM's near you. 

He just hosted a get-together - a Family Reunion - where we took a deep dive into various aspects of BRRRR, how to source deals and a look at how he is rehabbing the hotel we were at that he owns.

The house gets a deep clean from a cleaning company once a month but this just does not keep up. 

I didn't realize how deep this went!

Additionally, each deep clean after a mid-term stay costs around $300 or more, which almost negates the financial benefit of the mid-term rental model.