It was creamed pickled herring.

Too many to put in one thread, that's for sure.Assuming you have the right property at the right price, IMO the biggest pitfall new landlords run into is running the business like a friendly ice cream truck and not a "by the numbers" business.

On the other hand, homes that have not yet been listed on the MLS are the “cream of the crop” homes (non-overpriced) that all real estate investors are competing for. 

If I buy from a wholesaler or listing Realtor, there isn’t enough ‘cream’ to protect me from the potential for surprise expenses, maybe even from mistakes I could make as a novice.

So my 2-car garage has a plumbing toolbox, an electrical toolbox, a toolbox with new receptacle covers both white and cream and the foam inserts, I've got the contractor boxes of receptacles, spare garage door rollers, copper plumbing parts, PVC and plastic plumbing parts, 3 boxes of painting supplies, clamps, drills, saws of all kinds, and on and on. 

I'll bet if you ordered two scoops of ice cream and only got one scoop, that would be noticeable.

The result is we now have a 6 figure in profit wholesale business that provides us with the cream of the crop deals that we can choose to buy ourselves or wholesale for a quick profit.

He is seeing the newbies get creamed already. 

After taking out the old cabinets, we found some mold behind them so the drywall was also removed and new drywall put in.The paint color is actually a beige/cream color, although my pictures don't reflect that.Living room before:Living room after:The living room got a new window, new vinyl plank flooring, new base trim, and paint.The bedrooms also got new flooring.The bathrooms got new ceramic tile floor, new counter tops, new light fixtures, new faucets, and new mirrors. 

Mortgage servicers are sophisticated investors as well, they have had the same problems for decades.Local knowledge, I suspect they will dictate what the management and fees will be, much like Lender's Services, the cream of the crop in any area who are most successful usually don't, nor do the need to work that way.