I read about it but do not fully understand it yet.

I agree with Konstantin.I am not sure about CA laws (they are not very favorable to landlords from what I understand). 

Assuming I am understanding you plan.

We don’t fully understand why it hasn't dropped more."

We received the payout in about 30 days and were able to rehab the unit and get it rented again promptly.From my understanding of the situation, if the tenant did not have the renter's policy in place, our own landlord policy would most likely have covered it, but they could also have pursued the tenant to collect those damages.

I'm well aware of the challenges ahead and understand the importance of making informed decisions.

I value my time and even told my PM contact that I understand there’s a premium to this service.

If the property manager is named on the contract, then the property manager can represent the owner in court.This may not apply to your situation, but I highly recommend you read the law or speak with an attorney to understand your options and which method is best for you.

It's also about understanding the market, having folks or a team there that can help you, and making sure it's viable for you personally.If this property checks those boxes, ignore anyone that downplays the returns not being high enough.

I’m just saying I understand.