If you do, my tip is to interview them and carefully monitor how they manage your rental income, repairs, and tenant communications.Calculating Costs & Building a Team: Consider all costs associated with the property, including mortgage payments, taxes, insurance, and maintenance.

We hold the utilities in our name and pay them, but provide the tenant with copies of the bills {this enables them to monitor and regulate their usage}.Every three months we reconcile the utilities budget and give the tenant the option of retaining any surplus in the budget (say for coming colder weather) or applying it to the next month's rent.

They are here to help you, and that email address is monitored 24/7/365. 

You will be monitoring their property making sure that it stays maintained every time the property flips. 3.

Anyway there are tons of old, outdated printers, monitors, fax machines, software, pieces and parts in the commercial building.

I'll take your advice and monitor it every day. 

So if I would spend more than an hour a month dealing with tenants, then it's a cost savings by hiring this out to a PM - not to mention the headaches and time savings.With that said, you still should know enough about the subject that you can monitor the PM and be sure they are doing a good job.

@Seth Leiboh I target an area, monitor the traffic and let everyone know what I'm looking for.What's your "initial review"?

Bigger Pockets has some great state forums and usually there are good locals that monitor those.

@Tony Karns just in case you still monitor this, you can absolutely get a cash out loan on an investment property - even if it's a duplex.