If you decide to stop doing business with them, they will supposedly return the full $500.* = They also charge 50% of one month's rent to place a tenant.

I supposed the usefulness may depend on what information you need/value as an investor?

From a bookkeeping standpoint, this makes everything a lot easier as long as each financial account is used the way it is supposed to be used (no commingling).I would just caution you to think about the functionality of that structure within your day-to-day business operations before pulling the trigger on it.Make sure you're keeping things as simple and efficient as possible.

That person is supposed to be available to respond to any potential complaints 24/7. 

Main things we are looking for are:1) Are residents keeping property in decent shape2) Any leaks or issues that could lead to substantial damage3) Any capital repair concerns (mostly foundation) that we might need to address4) Long term guests who aren't on the lease, pets who they're not supposed to have, etc.We also change the furnace filters (because we don't trust them to do that), clean off the AC units and are considering cleaning the gutters for an added fee if tenants request it. 

Tenants are supposed to be out by the 31st by the notice we gave them.

That was supposed to end with an exclamation point not a question mark LOL!

Twice. lnterest isnt locked in and interest went up and he now mentions constuction paperwork with totals has to be reviewed and takes 30 to 45 days plus expect a back and forth. lm suppose to close soon. 

He has been on FB since 2016, but really did not post much until June, 23 when he added a dozen photos of what is supposed to be him with famous people. 

When you buy a distressed property it’s not like buying a vacuum cleaner that is supposed to work 100% of the time or the seller will replace it for free.