There's a few reasons they probably have that in their contract:previously got burned from negligenceknow they are low quality and want to protect themselvesunreasonable professionalsI understand PM firms have to protect themselves but there also needs to be a level of accountability. 

I buy quality real estate in good locations.

Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.Proverbs 11:15: Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure.Proverbs 17:18: One who lacks sense gives a pledge and puts up security in the presence of his neighbor.Proverbs 22:26: Be not one of those who give pledges, who put up security for debts.These say 1) don't risk too much with loans requiring collateral and 2) don't get a loan with a sketchy dude because you're going to get caught holding the bag.Romans 13:8, too:  Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.This warns against debt that incurs an outstanding obligation.

They will need to downsize, possibly increase occupancy, possibly downgrade the quality and location of their home. 

I like "management" or professional "Hosts" that are almost more like my tenants that know how to run their own boutique hospitality business rather than managers that focus on managing as many properties as they can with less regard about the quality of the property and experience being created for guests.There are all different types of markets, all different types of properties, and all different types of guests so lots of different strategies work.

No - there is high demand for quality rental housing in many markets, both expensive and affordable.How did your first deal go?  

A good quality quartz, which is natural stone plus a binder, has a lifetime lifespan.

Hello BP! I own a home in deep east Oakland, and for the past three years it has been used as my primary resident. I am moving out, but want to convert this home into a rental property. I have heard numerous horror st...

The prep work Good quality paint is worth it in my opinion. 

That leaves the low property tax, no income tax, cheap utilities, no weather related expenses, tile roofed, stucco sided, median property age under 20 years, cheap insurance and solid foundations Las Vegas properties with lots of entertainment, very cheap flights and a good quality of life.