Appliances do break and you need to be ready take care of the bill when that does come around. 

Beyond carefully vetting the tenants, how can an investor protect themselves from squatters if we want to sell years down the road?

Gotta be careful though.

Just make sure to vet them carefully and ask for references from past deals and proof of their track record.

@Robert Zajac pretty sure BRB charges less than an 8% management fee, so just as @Nathan Gesner states, they are making up for being below the "industry standards" by charging more elsewhere.BE CAREFUL about PMCs that claim they don't charge a markup on maintenance - TIME IS ALWAYS MONEY!

If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.

Simplified ManagementFor those managing multiple properties, AB 2622 streamlines operations by expanding your hiring pool and removing the red tape often associated with minor repairs.Why It Matters for TenantsTenants also benefit from AB 2622:Faster Maintenance: Minor issues like plumbing or lighting can now be resolved promptly.Fairer Move-Out Costs: Affordable repairs mean tenants aren’t hit with inflated charges for damage beyond normal wear and tear.Things to Keep in MindWhile AB 2622 makes maintenance easier, landlords should still vet unlicensed workers carefully, ensure proper insurance coverage, and remember that jobs requiring permits must involve licensed contractors.AB 2622: A Win-Win for California’s Rental MarketAB 2622 strikes a balance between flexibility and accountability, making it easier for landlords to maintain high-quality rentals while fostering better tenant relationships.

Tenants may not care as much, therefore there may not be a big discount for the lack of space. 

Case in point, just today BAM announced the sale of an asset. 17.4% IRR and a 2.63 Equity Multiple to investors.

I'm not going to continue arguing with you about this on this thread because quite frankly nobody here cares if we are being honest.