As long as the servicer follows the procedures, along with only allowing customary closing costs, and the property is sold for 95% of appraisal, whether by short sale or sale by the servicer following a foreclosure/DIL, the servicer gets paid in full and everybody else(including the mortgagee) gets a free pass (except for the rest of us tax payers of course). http://portal.hud.gov/hudportal/documents/huddoc?

If you want to keep with section 8 then follow the local procedures for dealing with rent increases at the section 8 offices.

If you consider the amount of time and stress spent, it's probably closer to 80%.I usually encourage people to self-manage, as long as they are near the property, capable of self educating, can develop policies and procedures, and run their investments like a business.

@Jim StanleyI think you may be combining a problem at home with a business idea.. in my Opinion this could be a recipe for disasterI think the first thing you want to remember is that when you own a rental property you own a business and we have policies procedures structure and that becomes much more necessary when you have a high turnover as a short term rental and you are not local and you were out of stateIf you go down to the path of having a short term rental I think that’s OK but remember it’s a business you need to create the proper business plan and have the right structure to a successful especially the short term rentals with high turnover rate you need to make sure there’s a lot of policies and procedures in placeI would not worry about whether or not you make money because it sounds like the end goal is you want to have a place that you can liveObviously we all want to make money on businesses that have fun remember Caswell is not the only way that you’re making money when you were a rental property and many people seem to focus only on the cash flow and not the other advantages of owning the real estate1.

Being an effective property manager means having policies and procedures for dealing with all requests.

Start by finding out their procedure around renewals, along with renewal fee, before making the move.A GOOD PM should:Not only look to renew, but ALWAYS renew with an increase (even if it's small)Manage lease term expirations (Ex.

Follow procedures that keep you qualified in your insurers eyes, and ask them blunt questions about how you could screw up your coverage.

If you do not have a lease break procedure then mine is usually a 60 days notice, and a lease break fee of 2 months rent, or alternatively I've also done a 60 days notice and a forfeiture of the security deposit. 

I did own 1 duplex in the area before moving.Currently I self-managed a small portfolio of 2 SFRs but have constantly tweaked my management/ processes & procedures until it has become seamless.

Ive listened to "the book on managing rental properties" by brandon turner. in the book, in podcasts, it is repeatedly stated to form a process or procedure for every aspect of your business. ive decided to begin putting my binder of processes together so that i may reference it when needed. what do your processes look like?