The cost of PM here is between 20 - 30 % and frankly, while they can drive occupancy, they often have lower rates and less attention to detail (I worked with one when I transitioned a new property that was previously PM managed).

I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

This in itself drives off about 10% of the potential candidates.

However, once we implemented technology a few years ago, even our local clients prefer to avoid driving and switched to doing business remotely.

At least that way you can still drive to the properties if you need to check in on something in person. 

He's an acquired taste but I've read many of his books and maybe I'm a fool, but I believe he is genuine in his commitment and drive for success.

Given it's location not far from the ports of Richmond and Oakland, and that the Chevron oil refinery is nearby as well, some of that is likely be driving the highest and best use assessment. chris in the deep south they turn the anchor store into a big church..  

for folks in So cal  I think Vegas is a great choice   1. you can drive there   keep in mind flying to other parts of the country to check on property is going to eat up 1 months rent if you go annually.2.

Report it to the credit bureau as a loss - and they won't be driving a new car, getting a new phone, renting/buying home until they settle with you. 

If you ever want to chat about different strategiesQuote from @Tyler Garza: Quote from @Kimberly White: Hey there, I love seeing this kind of drive.. you’ve already taken the first step by carving out equity in your existing home, so kudos for that.