@Amol KulkarniRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I still get junk leads but that is to be expected on just about every online lead platform.

I feel that if I did switch to another software platform like Rentastic, I would have to get a new team, or expect them to learn a new system.What's your thoughts?

@Shakthi Kamal read copy and paste advice below.For cashflow, you'll be looking at mostly Class C properties/tenants.Be SURE you UNDERSTAND what this means or your expectations won't match reality!

Have you ever filled out an maintenance/cap ex spreadsheet with expected lifespan and expected replacement costs to try to accurately estimate sustained maintenance/cap ex.I already know you did not accurately project increased insurance costs. 

People house hacking have far different expectations than someone buying properties with cash. 

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you're not putting anything in, then I'd expect that your friend would want to get all of their capital back before you start splitting up the distributions.

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

Some owners expect their PMC to actually be a personal assistant:(How did you set expectations for this client when onboarding them?