It is not uncommon for PM companies to utilize "interns" and this is a great way to learn about operations, applicable laws, marketing, and, if there are active investment property sales agents in the organization, you can learn the mechanics of the Deals as well.

I Buy Houses..And it isn’t uncommon for a seller to come up to me and ask...I even wear the bright yellow one in the boxing ring...here are what mine look like...

They are always looking for new business so they will tell you their rates if you have a property that needs managing.25% up to 50% of the gross rent is not uncommon. 50% tends to be where someone owns a room in a hotel or resort.There are some dedicated mailing lists or forums for vacation rentals.

I don't know if other investors have had this problem with companies doing their own rehabbing and managing- Think it is probably not uncommon, ??

My initial reaction is that you are giving away profit centers you should be collecting on your own. 10% is not uncommon from what I have seen.

Dawn - It is not uncommon for sellers to specify which closing attorney or title company they want to use for the transaction.

A true NNN lease would make those the tenants responsibility, but it is not too uncommon for capx to be the landlord's responsibility.

And, based on my experience and knowledge, I see little reason to set up an S-Corp vs an LLC taxes as an S-Corp, unless you plan to have shareholders or need one of the more uncommon aspects of a corporate shell for small business owners.

Thirdly, a 20% of gross rents factor for maintenance and vacancy is only accurate if 1) the property is FULLY stablized (new roof, new furnace, new windows, and so on)--and most of the TKRs I've seen do NOT meet this standard by a long shot, 2) if the property is VERY aggressively managed--heavy screening, prompt eviction, quick re-rent--a practice not common amongst most property managers, and 3) aggressive maintenance is done to maintain the capital repair items (changing furnace filters bi-monthly, cleaning gutters in the fall to avoid failure, maintaining metal roofs, cutting back trees to avoid roof damage, etc--again, uncommon amongst property managers).

A sudden, $1000 expense is, unfortunately, not uncommon with rentals.Ranae, I can tell you have enthusiasm for real estate, but what you really need is just a job.