I'm not sure about this and it warrants some research, but I recall reading something regarding whether your rental is in an LLC. 

The amount of money that tenant is saving in rent should warrant them to buy their own (at the owners discretion).

Appliances these days have a way of dying or needing repair right after the warrant expires.

If it doesn't, the PM will then follow-up and collect the rent and pocket the late fee as compensation for the extra work they do.If you think this policy warrants a PM giving a fee break on tenants that are easy to manage, I don't think you realize just how razor thin the margins are on each property being managed.

This allows you to vet your phone calls, and make sure if they do call at any hour, its actually warranted.

The appraiser will make a note " comparable sales in the market do not warrant a higher valuation or appraisal value," or "lack of comparables similar to the subject property,"... on and on....This is where theory differs from reality as I've seen multiple appraisals where the borrower/investor did not get their appraisal target or ARV they were looking for and ultimately had to bring in cash to buy/pay down the loan to 75-80% to complete their refinance.Looking back I would attribute this to inaccurately calculating ARV, using bad comps perhaps, over spending on rehab, and or market conditions weren't so great so new higher priced comps weren't closing fast enough to become "comps," on the appraisers report.

I can't see any situation where that is warranted to tell you that.

Also, the deductibles I experienced were in the $5,000 range so a separate tool policy or inland marine endorsement may be appropriate if you supply some tools/materials but not enough to warrant filing a claim given the deductible.

My thought is if I can get just two deals a month, through an aggressive direct marketing campaign, each deal avg a $4-6k fee, that that would be enough to warrant me going into it full time.

-The idea about having yet another LLC function as an equity clearing house (or a bank that mortgages the equity in your properties) for your other properties/LLCs is also a great move for an additional layer of protection but it will be yet another expense each year to renew and you have to figure out what the threshold is, when you have a big enough business to warrant this extra protection layer.I am sure this varies from state-to-state and everyone's situation is different so by no means do I claim that this is a definitive guide.