They collect the rent, deduct their fee and any other expenses they are allowed/required to pay on your behalf, then they distribute the remaining funds to you.It's critical that you review the property management agreement and understand what you agreed to.

Quote from @Clinton Bolton: good day everyoneIm a foreign property investor and have been looking into tapping into the US market for quiet some time now.

Lots of folks needing a cheap place to live!

However, it has taken a lot time to rent.

When deciding between them, look for flexible memberships, no high-volume minimum, and customer service to help walk you through the process.

Purchase price: $360,000 Cash invested: $96,000 Purchased my first investment property in summer 2017 while living in SF, a new construction home intended as a long-term buy-and-hold.

I will add about ReaIT that you have to be an accredited investor to purchase those deals. 

Here are some numbers: Current PITI: $3,970Estimated rent: $4500-$5000 (there are several homes within 4 blocks of mine that owners have turned into rentals and I've been able to compare online pics to our home, so I am confident this is a good estimate)Sq ft: 1790Estimated sale price today: 1150000-1250000Mortgage balance: 612,000I would self manage. 

Try to track days on market and price trends to see how well an area is selling.There is a housing shortage in general, so every house will eventually be a home.

There is nothing that says you can't be under contract to sell within or before your 45 day identification period even begins.