The 10% you pay them will be offset by the extra revenue they assure you.

We are entering the game with our first rental (family member was supposed to move in but passed away, so we already are in possession of this property). It's a very small 850 sq ft, no basement SFH on a street of nea...

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We are using a property management company with a local office on HHI, but they take 25% of our monthly rent plus a few extra fees.

So 15 years down the road when your property is worth $100k more you aren't going to be worried about the $20k extra that you paid upon purchase.

I'd also like extra cash as reserves to purchase an investment property in the near future.Question: Since I already have a great rate on my loan now, would it make more sense to apply for a HELOC and access the money as needed?

In a competitive market, finding a good deal might require some extra time, and creativity.

How does it work if the neighbor reimburses me 100% out of pocket and then I submit a claim and get extra reimbursement on top of that? 

P/S - The home has a full unfinished walkout basement I plan on turning into a one bedroom apartment in the future for extra income.

@Charles CarilloI hear what your saying.The the property I’m looking at will have a payment of 1500 for piti and interest only is 1175 that’s an extra 3900 for the year.Am I thinking the wrong way because the banker don’t agree with me either?