If you don't have the extra cash, can you get creative with a private lender or partner stacked on bank debt? 

Financing OptionsParent Loan Options: Consider home equity loans, investment property mortgages, or co-signing a loan.Tax Implications: Speak with a financial advisor about potential deductions and capital gains.Rental Income Potential: Explore the option of renting out extra rooms to offset costs.5.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

@Dillon Clark-don't pay extra down on your mortgage-don't use a HELOC-save up as much as you can-hope this helps

You can't charge extra pet rent or even a pet deposit because it's legally not considered a pet.

If your average heating bill is $150, you may not collect enough in the winter months when the bill reaches $225 but you'll collect extra in the summer when it drops to $65.

Many investors do end up getting their own license because of this, others don't want the liability and extra work.

-Have an extra umbrella policy-Speak with my real estate attorney to make sure I did enough to limit my liability. 

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.Good Luck!