Tell him that you are running out of funds and you hadn't planned on the extra 20% he's charging on each bill. 

Also make sure to build on a property located in a desirable location with larger pop density and if holding for rentals, charge median rent for that market as lenders want to see a bigger pool of buyers/renters available to occupy/sell. 

I do either 12 month balloon notes or notes where I get paid monthly. 

Maybe down to once a month now. 

Keep in mind many get investigated not all get charged or anything happens..

@Deirdre Lizio see a lot of competiting PMCs start with a pledge of doing it better than "what's out there".Always interesting to revisit them 3-5 years later - after they've experienced the reality of challenging tenants AND owners.Look no further than Evernest: they started out with flat fee management at $99/month and promises of better & fairer service & pricing.Now they're at 10%, capped at $199/month - wonder what changed?

on a 100 year old house that rents for $1000 a month that's about to need a new everything - that is spectacularly deficient.  

Now they are charging $395 per 1031 exchange!

I was 3 months into the rehab when I found out that I needed a whole other category of insurance (builders risk) instead of the homeowners insurance I got on the purchase and that for all intents and purposes, I wasn't covered if something happened.Its a little thing amongst the many things that occurred on that first flip, but I always look back and say "who knew" and know that I know now.

Once we changed to charging a fee, proof of ability to close, good income, a sizable reserve and reasonable credit, the students not only started taking the training seriously but actually began buying properties for their retirement.