When clients come onboard, that process should be explained in great detail and by signing the PMA, you are agreeing with our standard processes and core values.Far too often that process is never fully explained and/or proper expectations are not set, hence new clients try to tell you how to run your business.

I've found the easiest solution is to have a really strong banking relationship and then they will be able to provide non-standard offerings. 

Set a reasonable salary for yourself (based on market standards) to ensure a stable income.

This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

You also tend to get more frequent and better feedback than with an STR, if you treat your residents well.The last quadrant, unnecessary but not obviously so, is usually as a result of either converting an STR to an MTR or from remodeling above the standard needed.

We don't have the option of going off the gold standard again. 

Or try the reverse - rehab a property to Class A standards in a Class D neighborhood and try to get a Class A or B tenant to rent it.Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.

I think I have a pretty standard screening criteria.

I looked back at my tax returns when I was doing the conversions from my traditional IRA to my Roth IRA and realized I had converted up to the limit of my standard deduction allowing that amount to be tax free, but the excess above that that I converted each year was at the lowest tax bracket, so while I did convert some money tax free each of those years I DID IN FACT pay more than a few cents in taxes on the amount above the deduction.  

I do relatively well in my day job by today's standards but my hourly rate for self managing is closer to that of a surgeon.