I suspect that PM companies recognize that over time they make more money on warzone properties anyways due to higher rate of turn-over and higher degree of damage by tenants.In my opinion the most important skills to being a good PM are being organized, having people skills, having specific routines for all the basic landlording duties, and having a command of the relevant state laws.I think one of the most difficult aspects of being a PM would be that not only will you need to establish rules and routines for your tenants, but you will also have to establish another set of rules and routines for your clients.

And let's not forget that the owner-financing borrower is almost always unable to obtain conventional financing, so in order to make them a loan, you (by definition) are having to relax underwriting standards relative to generally recognized guidelines.

Jon: I've been to CMA meetings and I recognize many CMA members that are also members of AAPL, and they are brokers almost exclusively that lend their and other (private) peoples money.

but I am quicker to recognize when something doesn't look right & it has saved my butt or made me money more times than I can count.

I recognize and realize I have to buy it before I can sell it.

It's not hating on it so much as just recognizing that Detroit is a dying city with high crime and real estate values that have fallen through the floor; i.e. not a particularly good place to invest.

I'm not sure if you received any updates regarding transferring your prop's to an LLC from BOA or have made many transfers easily without triggering the due on sale clause; for every-time I call and ask, all I get is BoA does NOT recognize LLC's and they will not recognize the transaction, calling the due on sale clause like Pete K. mentioned.  

If you have the most vested that will need to be shown and likely recognized and if you want to retain the property the court may well set a value and have you buy the others out.

The hurdle I foresee is quickly reaching a DTI level (currently just under 25%) that would make traditional funding a challenge as I understand it often takes up to a year for them to recognize your rental income as actual income. 

We split up tasks and we recognize each other's strengths so I feel like we're a match made in heaven.