As with any electronic item they can fail, so I keep an extra new lock on site at each property for maintenance to install if needed. 

I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

You would borrow against the equity at 7% or more, then use the money to pay off a credit card?

Many renters search by property type, so misclassification can definitely impact visibility.FMLS (First Multiple Listing Service) is typically more relevant for home sales than rentals, though some PMs use it for extra exposure.

Too many rentals, too much deferred maintenance, no real budgets, not enough money in reserves.You can still get CapEx in condos....these are called "special assessments" .

A good condo board should be saving money for larger projects as they are known in advance (eg every 25 years you need a new roof). 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Have an owner's closet, where you lock up your extra inventory so the guests can't use it. 

With all the resources available today to research and learn about the industry, I’m surprised this “easy money” mindset persists.To me, real estate is far from passive or simple.