Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

For 5+ unit properties or commercial it is not as high.5.

You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.  

Rate will be highly dependent on loan size, credit score, LTV, location, and property type, as well as a few other factors.

I highly encourage everyone to view the property before putting money down, but that's not ideal for many of them, so I do allow them to rent "sight unseen," but I am very open with them to ensure they don't show up and back out.1.

Risk entails everything from lawsuits to lack of diversity in investments to low rates of return to high exposure to vacancy (more units theoretically lowers vacancy exposure).

Start with durable, high-quality basics: plush towels, soft linens, and a fully stocked kitchen with sharp knives, pans, and essentials like oil and spices.

Op ex ratio may end up being more like 45% or perhaps 40% with newer high quality construction.

Areas with high inventory (e.g., Austin, TX) are likely to see slow or negative rent growth and appreciation.

Kudos to you for doing something to create a secondary income stream. there are 5 income streams in RE rentals, possibly six if you do things a certain way.The reality here is your model (buy box) is suffering from too high an entry and too high a cost of capital.