Tax free appreciation and rents significantly trump the loss of depreciation and custodial fees.

5) What Placement Fee did you negotiate with your PMC?

I see lawyers fees cancelling out this years rent increases quickly. this is a business, and I would always expect unhappy customers to push back - a good business worthInvesting In will satisfy customers while still making a profit.

You may have to renovate a property, building maintenance fee may go up, rent will come down and vacancies will rise as the old properties become undesirable with time.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Fees are through the roof. 

I'll add a few more things that can have a huge financial impact: required reserves, LTC (loan to cost), application or other upfront fees, and prepayment penalties.As a fellow flipper, I think it's important to have reserves, but they shouldn't be required as part of your funding.

I never got the consultation, but was politely told my portfolio is probably too small to pay their annual fees (starts at $2500 and goes up).

✅ Typical origination fees?

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?