Much like wind insurance in FLA and TX went way up because of Hurricanes i can see fire insurance going nuts in these areas as well. lastly were is the man power to all of a sudden rebuild a community that took 30 years to build in the first place..

I would at turn over endevour to take all carpet out and replace with hard surface flooring.. also depending on the size of the company and man power it could be hard to get instant communications.running rentals or running PM's is not a set it and forget it thing. you have to be diligently engaged

No one has the manpower or resources to make 100% sure there are no code violations in existance anywhere. 

Focus on areas and properties that allow you the opportunity to take advantage of information, manpower, or capital that competitors may not possess. 

I'm usually asked why, well I was in the proccess of growing my two construction companies at the time and didn't want to take man power away from that.

IMO, investing with a partner whom you trust can be beneficial because it (1) gives you a new perspective on every decision that needs to be made, (2) gives you double the manpower to do work to the property, research the market, etc., and (3) is valuable financially (i.e. more cash to the table, able to shoulder more debt, etc.).

@Bjorn Ahlblad thanks a lot man powerful words i greatly appreciate it

Nancy, some property management companies keep the late fees for themselves to cover the additional overhead and manpower to collect rent.

I find that a lot of the contracts, scopes of work, schedule requirements, manpower requirements, standard terms & conditions leave a lot to be desired and do very little to protect the investor.

I was just getting ready to post something to get advice about what is the best niche for me for long term passive income being that I have the skills and manpower to accomplish much for a lower cost or at least the same cost as someone paying a "budget" contractor (we are not a budget contractor from a retail perspective).