To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

The goal, initially, was to sell this property, however we would really like to keep it to rent at this point.

Some people are successful by changing banks and keeping small amounts in several accounts, so the collector can’t drain everything.

I have family in Raleigh, wife and I can't afford where we live in LA, CA so we're looking for an investment property elsewhere to get into some RE while we keep renting in CA, and Raleigh has that familial connection--who knows, maybe we'll move there but assuming we won't for this decision. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Definitely soak up all you can from your mentor and keep pushing with wholesaling—it’s a solid start.

I would also point out that it's unlikely the rates will come down close to 2.99% within the next year, so sitting on the sideline for years is a risk in of itself.Alternatively, you could get a 2nd mortgage that would allow you to keep the first mortgage at 2.99%.

Best, Heather Holt Motion Property Management "We Keep Your Property In MOTION"

That means that I keep reserves of $10k to $20k and I make my deductible as high as possible (something like 5% of the RCV or $20,000).  

Likely because we've had reasonable success so far with that strategy, and woud like to stay consistent and keep adding to it.