The billing model incentives are counter to the best interest of the property owner; There is a financial incentive for property managers to churn units rather than address tenant problems.Most of the "professionally managed" properties I look at to buy are not nearly as well maintained as owner operated buildings and the work is shoddy.

If you look st the model of supply and demand.

I have seen one that ran the entire perimeter of the lot, with T's that would have been for faucets at various points that went all the way to the road (Maybe model T's needed a lot of water?

Conservative leverage could be a good model for you.

Be sure to do your DD on the operator and understand their business model before diving in.

You might consider running this model as a flip to see if it makes sense economically. 

It's a business model - it needs to make sense.

So that's where you've got to examine your own model and needs.

With the pressure off financially the broker/agent can spend time and really look out for the buyers interests more and not struggle with needing the closing today and thinking about having to SELL the buyer something immediately.Now another item however is that now that the broker/agent is very successful and established they likely have a polished and well defined business model.

If you had all agents as investors how does the business model work.