This place has a single oil heat source that is currently running both units.

I get where you are coming from @Mike Timme I live in an oil boom town and so it isn't feasible or wise for me to invest in my current location so my husband and I decided to invest out of state right from the beginning.

All that for dealing with the tenant and writing down the date,time,complaint,etc. and tracking expenses making calls and sending payment and reports.As a property manager it is much easier to control a larger project than with a bunch of smaller parcels with multiple owners and expectations and fee structures.The problem with most small investors is they don't utilize a full time property management company.Instead they use an agent that focuses on sales and does rental management on the side as an afterthought.It is real hard to find a great property management company and even if you do they might only service a few counties.So you can use them for some of your properties but not others.I think what happens sometimes is new investors underestimate the time involved in managing a property and dealing with issues.So when they buy they say I will manage myself.Then they find out how much work it is and then want to use a management company.By then they try to go with the lowest company as cash flow is tight because they bought to high.Then they use someone based on lowest cost and the problems start to mount.I am not saying you will not find bad service at the higher fees just you will definitely find many more problems in general getting a PM company with the lower fees.You pay for service it's just how much will you pay.Some things I do myself as I see the value in it and others not.For instance I could save 3 dollars by changing my own oil,getting filthy dirty,having to dispose of the oil or I could just go somewhere and have it done for a few bucks more.On larger projects of 50 units or more with multifamily or large retail projects 5% is common with built in bonuses based on hitting costs savings and performance numbers.

Plus, they will select a tenant that changes their Harley oil in the living room. 

Had to scramble several months ago when I found a deal on some oil leases, and would have liked a few 100k more.

I also have a stock portfolio that is built around REIT's, BDC's, mining companies and oil companies.

Authorize just one new oil refinery or nuclear plant.  

OIl or natural gas?

But once you factor in a new roof, furnace, oil tank, septic, and electrical, and whatever else is an issue, you end up at a price which could afford you the ability to buy a nicer C-class home in a better neighborhood without the headache of fixing everything.Then assume you purchase the D-class property and do all of the work, you will probably invest more cash in the deal than you would have for the 15-20% down and had a whole lot more headache.

It helps you stay on track and keep those sales coming in steadily, like a well-oiled machine.