PMs who screen properly and manage professionally probably DO have longer DOM and turnovers and that's not necessarily a bad thing.Speed of communication and maintenance turnaround are absolutely vital, but most new investors don't want to approve maintenance items either- they think their PM is trying to rip them off when they need to make repairs, so that's a tough one too.I know this is a very difficult thing for new investors- finding a quality PM, but trusting a pro is part of the deal too and that's the rub, IMHO.

@Nate Pucel - as others have said, file an extension and hire it out.There's a lot of items that you could capitalize as part of the rehab in addition to the hard costs (mortgage interest, taxes, insurance).

Well, if you have alot of F&F (furniture and fixtures) and common area items, parking lot lights, etc. it migh be worth the headaches, but again, think about the recapture as Will points out.

The maintenance seems to be a steady flow, and every time it's gritting teeth hoping and praying it's not another major item of significant cost. 

Do you have space to store items you find on sale that you can use in the house?

Many years ago when foreclosures were the hot item and every idiot in town was getting rich from them till the bubble burst, I paid $180 for Carlton Sheets No money down deal course hardcopy books and cd's well I bought the house I was renting with 0 down.

The only item I would add is that for 506 b offerings an investor must have a prior substantive relationship with a syndication sponsor. 

Delinquent tenants were either brought current on rent or had their stored items auctioned off.

Items like utilities, cleaning fees, insurance, and platform fees can add up.

As stated perc test or soil analysis needs to be done before you close on it.Septic systems are sized by the bathrooms/bedrooms  not size of house. its a very basic due diligence item