With used appliances the cost drop by more than half.

Of course, if you are going the self-assembled team route (as opposed to full-service turnkey), there is the possibility that one of the cogs in your machine fails - your contractor bails or under quotes, your PM drops the ball - and you have to take a last minute flight to do damage control and find replacements.

If you are worried about appreciation, chose a method of investing that injects appreciation with rehab, or if you are worried about appreciation dropping and rents are holding steady and you have cash flow then you are good.  

., to a drop in rents)?

Hopefully we should be able to drop by next month.

With conventional pmi will drop at 80% Ltv where fha won't.

Plus I don't see a lease up fee so if you're getting mgmt w/o a lease up fee then $25 is pocket change.Find a NARPM accredited PM and your likelihood of getting a bad manager drops dramatically. 

@Joe Scaparra is spot on, drop 1 right away, then 2 asap, they both need to go.

We don't have an office, we have 18 properties (just bought 15 sfh's) and am wondering where we have people drop off their rent checks (the properties are low income).

Also, once you hit 20% equity, at that point with the conforming loan, PMI will drop off.You should be able to refinance almost right away.