But from day 1 its hard to get immediate cash flow without a very large percent down.Having said all that, the Bay area is somewhat unique.

Regional recoveries based on market demand sure - for example Branson.

Obviously, there are going to be major regional differences...

In my second year, I was top producing agent at the regional level with individual sales.

Never heard of PVC being used for sewer but maybe it is a regional thing.  

If they are not aligned then simply keep looking till you find one that is.I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companiesWhat are your average days on market for vacant homes?

Hard money rates are regional, Jack Lee.

While I did take a few deals their way, they brought deals my way as well.I did alot of jumbo loans for a local regional bank as they did not do jumbos.

Every property is unique, every neighborhood is unique, and every target market is unique.

In my opinion, no person can accurately make a blanket statement of what is the best risk-adjusted return for everyone else, because the answer depends on that person's unique financial situation.