They expect approximately 8-9% annual returns, paid out quarterly.

What they quickly discover is that virtually a single capital expenditure, a few inflated vendor invoices or a slow turn, could literally obliterate that month, quarter or year of being in the black.Likewise, PM's have to be concerned with much more than "Tenants, Toilets and Trash".

They are paid by the sole owner through their quarterly estimated payments and annual tax returns.From the IRS website:An individual owner of a single-member LLC that operates a trade or business is subject to the tax on net earnings from self employment in the same manner as a sole proprietorship.

Get their contact info, and call them once a quarter plus whatever other contact you choose to make with them. 

Yes mtg rates have been bumping up, and are expected to continue into the 1st quarter of next year.  

I like to use the reporting to look at metrics by year, quarter, ect

Ask to see their latest quarterly report.

I do these repairs and bill the cost to tenants following my quarterly inspections. 

The properties directly next door are quarter acre lots with houses ranging in value from 550k-700k and their are a few homes on 1 acre lots that are around 900k.

I'm pulling about a quarter mil out of some SFRs and trying to decide on buying a block of SFRs in Birmingham or stepping up to a small multi in Northern Jersey.