The proforma's would have been accurate but, what they didn't allow for, is the turnover cost between renters that left excessive damage.

Landlord will promptly respond to Tenant request for repairs but will not be monetarily responsible for tenant disruptions or inconveniences during habitable times of repairs or tenant/guest injuries incurred in or around obvious areas of maintenance, repairs, or construction.We are more converned about them expecting us to pay for their losses rather than getting recouped for damages to our property. 

My wife and I have never really followed the $$/sqft. approach because it's not as accurate.

There are definitely some hiccups with it being a small company, but I do have to say that their response time on tickets is really fast.  

Also:_________________________________________________________________________Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

If they don't respond, give them a 30-day notice of termination and find a tenant that's more responsive.

Is it tied to changes in the market, a response to new regulations, or part of a long-term plan?

Quote from @Anthony Thompson: Anthony - thanks for the response.

So when we did not receive any response to our emails for several days, this naturally triggers concerns and emotions.

Posts like this are part of my journey to learn, network & connect with experienced professionals like yourself who have valuable insights to share.I also want to apologize for the late response—it’s been a busy few days, but I didn’t want to miss the chance to thank you for your input.Looking forward to learning & growing in this space & who knows, maybe one day I’ll be offering you in on an investment idea or I'll be the one offering advice to new investors!