Yes, if it is that bad you will have constant headaches. 

Then came Dale Carnegie’s How to Win Friends and Influence People.

I'd be interested in hearing from condo investors about why this real estate product makes sense even with the low COC returns and HOA fees that cannot be influenced?

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

When you pay cash for a $400,000 home and rent it out, your rate of return will likely be less than 6%.You could invest in stocks and earn 7% or better.You could put the money in a high-interest savings account and earn up to 5%.I don't understand why anyone would pay cash for real estate, erasing many benefits that increase the rate of return, while exposing themselves to the risk of loss (turnover costs, bad tenants, capex, etc.). 

Over priced, layout is awkward, junky neighbors, back on market/under contract multiple times, bad photos, bad timing(got buried from other listings, weather occurrence, etc). 

Sorry to be the bearer of bad news, investment real estate is not eligible for an SBA loan.

You only get a sense of this by meeting face-to-face once or twice.A bad borrower can kill a great project.

Gas heat would require constant tank refilling and it would be very bad to run out in the winter.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.