It’s always best to keep this in mind and not rely entirely on the expectation of stable payments.

Definitely not what I would expect from someone who is a professional.

We had a client that bought in Port huron and then ended up selling their property because they went through 3 PMCs and gave up trying to find a great one:(Some copy and paste advice below:--------------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Again, expect higher prices than your initial targets.Smaller Cities: Don't completely overlook smaller cities or towns with strong local economies (e.g., a strong university or a growing industry).

With some of my other heavy rehab CFO clients, they'd probably expect at least 30% on this type of deal.

The question you should ask yourself is not just what cash flow you want today, but what do you expect 2, 5 and 10 years down the line.

I have done this and then we lost half of our W2 income, then a big HVAC repair, then the ELOC rate drifted up from 4% to 10%, then a storm forced a roof repair sooner than expected.

Here are some practical tips and insights based on my experience managing a real estate fund and working in this field.First, setting realistic expectations.

Certainty in this industry is merely an illusory facade - costs and timelines often exceed expectations by double.

Since the property is in Los Angeles County, I expect the eviction could take 4-6 months, followed by another month or two to secure new tenants.