Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Hi BP community - I'm an investor with 3 SFHs in the Nashville area looking to acquire my first small multifamily property (2-4 units).I'm trying to determine the best approach for the 25% downpayment, comparing using cash that is currently sitting in a high yield savings account to funds from a HELOC on one of my properties.

That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too).

And a condo can take longer to sell when you exit compared to a detached home.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

P&L, Bank Statement, DSCR etcVery common for investors to make the switch when they need to or when the cons are no longer greater than the pros compared to conventional loans.  

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Just don't make the mistake of comparing what someone else profits on a role, to decide whether your compensation is sufficient or not. 

HUD and Agency financing is another beast compared to conventional or non-bank lending (Secondary Market).

I have one tenant who is a god send compared to most, he accomplishes nearly ever repair I need, even did an HVAC unit.