Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

I'm looking at several multifamily properties and I'm unclear on performing a cap rate calculation. 

Aloha BP community!
I’m curious to hear everyone’s mindset regarding obtaining insurance for your fix and flip LLC and coverage levels.
I’m on Oahu and planning on handling some of the rehab work myself while contr...

I think you could do better in your market (Raleigh) with a residential MF (duplex to quad) because it would have similar appreciation, have better cash flow, you would still be able to leverage all of the advantages of you being local (self manage if desired, able to know the market, be able to perform heroics if necessary).As for cash flow, I consistently argue that I value it less than value add and appreciation and this is why: Value add and appreciation allow me to extract my investment to leverage it quicker than cash flow would allow. 

Tech stack cost about $50 per month per unit, Hostaway (PMS), PriceLabs (Pricing), Breezeway (Task Mgmt), Ruebarue (guidebooks), Grasshopper (virtual phone lines), Slack (team comms), Google Drive/Business (team folders), Quickbooks Online, Gusto (payroll)-if you pay a 3rd party company, how much? 

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

I develop all my own software with MS Access 2003 and I develop separate applications for every task.

It can be challenging to deal with contractors and hold them to cost, schedule, and performance.

Third post today!  Sorry, I am new at this and appreciate any insight someone can provide...
1) Do you normally do a credit check on potential tenants?
2) How do you do this; what is process to do the credit check??...

A motel has full staff, cleaners, daily tasks, whereas your four-plex has on-call management.