Did it slowly go bad over time, did you pay up front and they decided to spend their time elsewhere, etc?

because you may spend a bunch of money on a rehab that's not functionally useful to potential tenants if their business requires certain buildout/finishes.

They'll start to point things out you may have missed.After doing this a few times you can get comfortable that your numbers are about 80% correct and you can just build in a 20-25% contingency for the stuff you missed Now you're ready to start pulling the triggerOf course you can ignore all of the hard work up front and just dive in...but then you also need to be prepared to lose $20k...if you don't have $20k to lose...spend the time to do your homework and practice first.

I also attended a TREIA workshop on legal issues for landlords and had a real estate attorney review my application and policies, and I do move-in inspections with new tenants so everything is transparent and covered up front. 

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat."

It took an additional 4 months to close and the seller ended up spending $25,000 in legal fees to clear the title.I'd get the advice of a real estate attorney. 

In 2016 we used an accountant to do our taxes and ended up spending 10% of our income from the property.

Without having to spend a dime on any physical upgrades we will drastically turn the NOI around.

But, like you, I'm not actually spending any reserves right now because of good W2 job. 

Probably talk to a lawyer, find a new PM and likely assume you’ll never see that rent money, without spending a lot on attorney fees.Good luck