A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

When you’re confident in your numbers, you can negotiate with clarity and avoid being swayed by emotions.Understand the Other Party’s MotivationEvery seller has a reason for selling.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

It's just how it goes, and no way to avoid it really.

If you have an older home that requires a lot of maintenance, you probably want to avoid the manager who charges a markup.I recommend shopping around occasionally to see if your PM is procuring fair pricing or just marking you up to make money without justification.As for expectations, you need to read the PM agreement and understand what is charged and why.

All channels can work, though some bear fruit more consistently than others.. especially when you’re hoping to avoid heavy renos.

However, once we implemented technology a few years ago, even our local clients prefer to avoid driving and switched to doing business remotely.

Either way, thanks for posting so others can avoid this.

Connecting with other local investors can help you learn the ropes faster and avoid common pitfalls.If you have any specific questions—whether it’s about neighborhoods, property types, or what to expect—I’d be happy to help.

You get out there and put deals together with your eyes wide open to avoid as much as you can.