Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Sometimes the sellers may or may not have that readily available or may only provide it for those under contract since usually there is paperwork around that that requires certain investment docs to be provided. 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

I always put them in a high-interest savings account, and love the extra bit of money I get from it.

You can simply go to the County clerk of court and in most cases simply fill out a "Quit Claim" form and pay the recording and admin fee which is usually anot much $100-$250 in most cases. 

Challenges - the usual challenge of obtaining a TOT in Mariposa.

It's usually 6 months if you are using an agent, but 3 months should be enough time to get it done.

Prepayment penalties- usually 1-5 year terms.

Your renovation money is separate, usually, from your purchase price and gets doled out in four draws.

For some units in my neighborhood, assessments are low (no extra exemptions) ... and it's rather strange seeing randomness in these assessments.