If so, you have to decide if the late fee fairly compensates you for your aggravation.

That could cause you to end up owing the tenant compensation. https://www.nolo.com/legal-encyclopedia/tenants-defenses-evi...

Issue Form 1099-NEC: If you pay a contractor $600 or more in a calendar year, you must issue them a Form 1099-NEC (Nonemployee Compensation) by January 31 of the following year.

Below is a comparison of average annual property insurance and property taxes for 5 states:Texas: average insurance: $2,536, property tax percentage of value: 1.68%New York: average insurance: $1,418, property tax percentage of value: 1.40%California: average insurance: $1,839, property tax percentage of value: 0.75%Nevada: average insurance: $1,144, property tax percentage of value: 0.59%Florida: average insurance: $2,207, property tax percentage of value: .91%To put these costs into perspective, below is a comparison of the annual cost for a $400,000 property.Texas: $2,536 + 1.68% x $400,000 ≈ $9,256New York: $1,418 + 1.40% x $400,000 ≈ $7,018California: $1,839 + .75% x $400,000 ≈ $4,839Nevada: $1,144 + .59% x $400,000 ≈ $3,504Florida: $2,207 + .91% x $400,000 ≈ $5,847Sources: Homeowners insurance, state average property taxesIndirect costs: Rent control is a hidden tax that may limit your ability to select the best tenant, remove a non-performing tenant, and increase rents enough to compensate for inflation.

How are you going to compensate for your lack of experience?

While I support hiring a professional PM (not a cheap one), you verbally hired her and she is already doing work for you..If I were in your situation I would call her, explain the situation, apologize for walking back my agreement, compensate her for what she has done so far and hire a good PM.

If they are showing you multiple homes, consider their time as well, and their desire to be compensated because it is their business too.In San Antonio, I pay an annual and quarterly fee for MLS access.I wish you all the best.

Check the contract for clauses related to delays and the compensation you are entitled to if the project is not completed on time.- Exit Strategy and Resale Market: Consider the potential resale value of the property.

Then the PMC can accompany the buyer/inspector/appraiser to view the property - as long as the owner is somehow compensating them for their time.

A request for separate compensation should have vanished when you formed an LLC to purchase, and no mention of a 'fee for service' was mentioned.