So, if you are just building out your portfolio, then don't feel it is a necessity. 

If I were younger and looking to grow a PM would be my only option, not by choice but by necessity.

I also find myself thinking how bad the economic situation might become once everyone's benefits runs out.. will crime rates rise, will suicide rates rise, will your neighbors out of necessity become your enemy?  

I think real estate investors, by necessity, lean toward the cynical end of the spectrum.

Stimulus money that is being given out is currently being spent on necessities. 

I agree with the points that others have made about the necessity for thorough training.

So, saving a few bucks is a necessity.

However most PM's own the listing unless you get a cohost, it is an unfortunate necessity due to PMS and Channel Manager.  

HVAC is not a necessity in LA - many rentals do not have AC.

@Bruce Woodruff..... while "want" has some major influence on where people decide to live, so does necessity..... what do you do for a living?