The MHC space on the other hand is saturated with lots of well capitalized buyers all pursuing patient, well-informed sellers looking to obtain the highest price possible. 

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

if they are a great PM 20% is totally fair. not too high and not too low

@Stephanie SelbyRecommend 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.

@Jerry ZhangRecommend speaking with them and getting the case number and information about the case and post it.

@Bonnie Low this is great info and exactly what I was looking for.

PR is great.

Get as much information from the previous landlord as possible BEFORE meeting them.

@Drew Clayton does your old PMC even have a website?

You have material information that effects the desirability and value of the property.