Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

You collect market rent (You might be collecting less net rent without a PM, you’re essentially managing for free.)

This frees you to focus on higher-value tasks like growing your portfolio, owner communication, and big-picture strategy.2.Adopt a Portfolio Management Structure: Early on, I ran a departmental structure (separate teams for maintenance, leasing, collections, etc.), and it caused inefficiencies and communication breakdowns.

An example of this is I had one trash company that collected the same three containers for $90 less than the in place trash removal company. $90/month X 12 = $1080 increase in NOI, at a 10% cap rate that small change increases the value of that property by a whopping (1080/10%=$10,800)!

.- Rental loss - PadSplit claims they collect 97% of rents, but I've spoken to a few hosts who have said that a much larger % of their tenants get kicked out owing $500 or more in back rent that is rarely ever collected - what's your experience been here?

Yes, unlikely, but there is a chance to collect. - They have a working relationship with the court personnel, which always helps. - They know the process cold, so shouldn't make a newbie errors. - They are arms-length. 

I have also seen leases with weekly collection schedules.

I do not want sales agents in my market to believe I am expecting a fee each time I purchase a property and go out of my way to make it known to the broker community that they will represent me and collect their fee if they bring me a deal.

I think the issue is going to be more on BP side of how do you collect and monitor this, and is it really worth it, or do you just ban someone for a month for first offense, 3 months for second and lifetime for 3rd...

Generally, grouping allows you to count all your hours collectively toward the 500-hour threshold, simplifying the qualification process for multiple properties.