Could be the tenant is not using the service, doing something to attract roaches or the exterminator isn't doing their job.

It will ultimately depend on price point and what level of service you want to provide. 

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.  

OP it’s a good idea as long as you tie the investment to the military or civil service market.  

Partner with a real estate marketing company out of Las Vegas or Provo, Utah to market, promote and advertise the “mentorship” system consisting of the free seminar, followed by the modest fee weekend workshop, followed by the $15,000 - $40 000 full mentorship program.Here are the usual results1- 99% of “students” never earn back the cost, despite 1000s of wasted hours2- students learn nothing of real estate principles, real estate finance and real estate law which are the necessary foundation blocks of knowledge necessary for a SUSTAINABLE career in real estate investment 3- with hundreds or thousands of “students” unleashed on the real estate selling public they’re AT BEST an annoyance of trying to do “unrealistic” deals, AT WORST lead to a disastrous result for vulnerable homeowners.4 - The career real estate investors, service providers, brokers, lenders, etc are so disgusted with all of it and the outcomes they see that that can’t even comprehend that the subject technique or strategy does have a legitimate use when utilized (1) by and experienced and well capitalized buyer and (2) full disclosure is provided all parties with legal representation.  

If you are open to non-traditional methods of financing, you could use a debt service loan to bypass that requirement.

However, be mindful that preventative maintenance, such as HVAC servicing, can arise even with recent renovations.

For comparison purposes, I hold ownership units in a LLC that owns a retail/service center where there is a mortgage loan that initially represented 50% of value, now about 35%.  

So, in actuality the divide between “good” PMs and “bad” ones is probably no different than any other service provider, be it real estate broker, mortgage originator, etc.The key word I has in my sentence was MAY; as in MAY be hazardous to your financial health.  

However, I read some bad reviews about them. 10% service fee from landlord, plus 8% from tenants.