I ask for copies of all their vendor contracts, verify the taxes with the county and get a quote on insurance. 

As mentioned, could be these tenants, previous vendors, or previous tenants, depends. 

Meanwhile most who obsess over entity formation fail to carry proper insurance, work with unlicensed and uninsured contractors, fail to execute contracts, can't explain the difference between being listed as additional insured and certificate holder or request to be listed as additional insured on vendors insurance policies etc.

Hi Ran,I would probably ask around locally for a PM to see if they have backoffice services that they offer, other than that, there are a lot of accounting type of services available with third party vendors through the national association of residential property managers.

They’ll ask you for referrals to your best vendors.

I'd be interested to hear if there is anyone on BP that has used this vendor.

Either negotiate a good price or only pick upgrades that's necessary in the rough phase and do the upgrades with your own subcontractor/vendors after the house closes (kitchen upgrades, appliances, countertop upgrades, flooring upgrades, landscaping upgrades you can get them much cheaper without going through the builder).New construction is a winner if all things are the same. 

The fees for the credit and background checks don't get returned though since that's the cost to our vendors.  

What vendor(s) where used?

Are there enough Property Managers with enough properties under management and deep enough vendors bench, or is it small shops13.