Everything looked good in the desktop version, but once imported into the online version, I was lost. and I am familiar with the online version because of I use ot for my design business.Anyways, every single transaction was defaulted to either an open transaction, or open invoice.

Lawyers love long documents, replete with words like "replete" and "FORCE MAJEURE", because they tend to scare the average person into relying on Lawyers for every RE transaction, thus seemingly justifying their huge invoices. 

Don't give them their deposit and send them an invoice for the rest.

Below are ones I have experienced over the past year with 2 PMs (on my 3rd now):Lack of rent due date enforcement (communication, fees)Lack of consistent (or no) eviction filing after late rentLack of communication with owner on late rents and the game planTaking weeks to make-ready units (increases vacancy)Not inspecting to ensure that maintenance was correctly done on the turn (and showing units repeatedly with the incomplete work)Paying all contractor/vendor invoices blindly with no inspectionsUnits not ready when vendors show up (painting, flooring, etc.) - no key/lock box, maintenance not finished, utilities not onNo system for ensuring that maintenance was completed as requested (other than resident calling them a week or two later to complain)Late monthly settlement of balance due to the ownerImproper screening of residents leading to lease breaks and abnormal turnoverIncreasing rents without consulting the owner (yes, that actually happened on 8 of my units)Lack of contractor depth leading to maintenance delays, downtime on turns and higher costsLonger vacancy period during resident transitionsNot showing units quickly when contactedNot refreshing adsNot having a good pulse on market rental rates or small items that could help a unit rent faster or for moreGrowing pains that many small businesses faceInexperienced staff with little or no supervision (owner too busy)No system/process to sell renters insuranceNot actively working with a collection agencyOut of all of these, the biggest challenges are/were (1) improper management of contractors and maintenance (2) basic rent collection and systems/processes around due dates and (3) improper screening.The two PMs I used were very hard working and honest people...just lacked proper processes and people.  

Dang @Justin Spaulding I just read your bio.  

If the tenant calls our handyman, electrician, or plumber to fix an issue, the service provider usually knows who's responsible - nonetheless, if there is an issue we want it fixed, so a copy of the bill will be sent to us and we'll simply invoice the tenant for the cost of items which are their responsibility.It's worked well for us thus far.

Enter a maintenance request, assign a vendor, attach a fake invoice.

You have to supply invoices and receipts, and you are capped at 10% profit for 6 months"I will visit some other small local banks to get a second opinion, but wanted to see if anyone had run into anything like this.Thanks in advance!

Your numbers seem ok, but the human factor here... dang.

Or does a timesheet stand as an invoice?