A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Our 4th Amendment Rights as landowners protect us against regulatory takings and that is why lots that were created prior to zoning or zoning changes are typically grandfathered.  

If you do, work to protect it! 

By not putting all your capital into one deal, you protect yourself from major losses and keep your portfolio more resilient.

Just because the costs might be in the furture does not warrant not budgeting for those known expensesThen there is the misc costs of asset protection, bookkeeping, unexpected utilities (such as between tenants (tenant turn over) or failure not attributable to the tenant such as slab leak).  

I enjoy helping investors and other BP members avoid this very thing you just suffered. 

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

They'll fight tooth & nail in court to keep a full accounting hidden, even to the point of claiming protected work related.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Can I protect my equity 2.