We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

OpportunitiesAffordability: Compared to many West Coast markets, Albuquerque properties often come at a more affordable price point, making it possible for investors to get started without a massive initial capital.Rental Demand: Due to the presence of UNM and other educational institutions, there's a consistent demand for rental properties, especially those close to campuses.Cultural Appeal: With its rich Native American and Hispanic heritage, Albuquerque offers cultural festivals, markets, and historical sites.

I have one tenant who is a god send compared to most, he accomplishes nearly ever repair I need, even did an HVAC unit. 

there are ways to get around the highest and you also need to take into account the savings you will generally have on the purchase side when compared to other regions. 

What is the current market valuation of the property based on comparable sales (defined as similar properties, within a 1-mile radius, within the last 30 to 180 days, that are within 10% of total square footage)? 

Just don't make the mistake of comparing what someone else profits on a role, to decide whether your compensation is sufficient or not. 

That was a substantial discount compared to my friends who were paying 2k+.

In addition, condos tend to not appreciate as fast in value compared to single-family or multi-family homes. 

HUD and Agency financing is another beast compared to conventional or non-bank lending (Secondary Market).

The key is to compare each scenario side by side.