After today’s experience with the extra “PM” fee tacked onto the already extremely high placement fee, I felt I had to say something.

And if you want an extra layer of confidence, find an investor-friendly real estate attorney or a knowledgeable friend who can help dissect the operating agreement.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

However, I definitely recommend pictures any time a guest left damage or extra cleaning that will result in additional charges.

How much is that extra 5k worth when it takes 3, 6 months to get it rented and then you are over budget.

Otherwise, you won't have the extra funds necessary to cover the rising costs of goods and services in the future.What causes rents (and prices) to increase?

If the higher end rent prices on comparable units take an extra month to fill the vacancy and also the tenant stays 1-2 years instead of 3-4 years on average those landlord make LESS income charging that rental price ESPECIALLY if they pay a PM a placement fee upon turnover on top.

The only reason I buy them is because I think that if I get one extra detail that was missed in another, it is worth the course price.The land riches blueprint covers building up capital, passive income, subdividing, entitlement & more which is why I value it more than others. 

Earning an extra 3% on $2k that you’re likely holding for less than a year.

Alternatively, your GC can keep you posted on progress, but having a local project manager or even a trusted friend to occasionally drop by can provide extra peace of mind.Hope this helps, and good luck with your rehab project!