@Mike Calvey you have a ton of information in all of the responses you have received so far so I will say one thing.Make sure that your friend is clear on the Fair Housing Regulations especially if renting in Colorado.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I see former players from the 2000's coming back to the industry under different business names, and some of their prior work was less than stellar.

(I know the gist of all of this - but not the specifics... but enough to point it out to you...)So be aware that if you transfer the property to an LLC - your county will likely treat this as a transfer of ownership (like they should)... the LLC is completely separate from you - even if you are the sole owner.  

I have one investment that sends very sparse updates with not very specific details on things like numbers but rather more generalized descriptions about how things are going.

What are some of your favorite areas for house flipping in the Greater Allentown area and what specific challenges (other than lack of inventory) are you facing in the 2024 Market?

In your specific case, I'd probably continue the eviction process as you have not received the funds yet.  

See https://library.municode.com/tx/killeen/codes/code_of_ordinancesChapter 26 is known as "City of Killeen Subdivision and Property Development Regulations."

So either 1- we find a new Accounting firm or 2- don't do the study Anyone have experience with this specifically for SFR and for an STR 

Is there a reason you were specifically interested in that area?