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?

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M

@Hedman Maximus too many investors worry about DIY pennies, while losing dollars - which it seems you may be doing.Why can't you hire a PMC to handle the properties for you?

If this is a one-off issue and they generally handle things well, maybe give them a chance to make it right.

That 18% premium reduces the cap rate quite a bit.

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.

How do you handle scaling once you get your first property – is it as daunting as it seems, or does it get easier?

We agreed to address the issues left by the previous tenant and you did not want us to handle it.

Most traditional property managers don’t handle this setup due to challenges like managing tenant disputes, coordinating overlapping move-ins/outs, and the risk of Fair Housing violations when selecting tenants.

This is basic case where bad sponsor doing high risk investment in bad times …I was one of the small investor for very large SF rental fund out of Florida but got litigated by SEC three years ago and handled by receivership court now.three years later we got at least out 80 percent money back LOLBtw , every new kid can make money in 2016, but if they can survive 2022 that’s your guy :)So don’t afraid to make lawsuit against these company …Carlos seems to be more experienced in this than me, so feel free to disregard my comment at your discretion.