Learn from it so you don't make the same mistakes.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

You made a big mistake by closing without your ducks in a row.

In fact it is the worst street in the city. 

Its all good until you have over $1 million in assets with $10k in the bank and things start to take a turn for the worst such as major repairs, evicting a tenant, vacancy and etc.

Then, you can either try to manage it yourself, or hire a property management company, but expect to give the property management company a big chunk of your profit and expect their will be a lot of inefficiencies when you have a property management company vs. being hands-on where you have much better control and don't have to pay someone to make mistakes on your behalf.

In theory, for example, you could have 10 LLCs with 10 rentals, and if you do something heinous with one your worst-case scenario is losing that one house rather than 10 homes.In reality, if you keep good insurance this is virtually guaranteed to never happen.

And even if you encounter an emergency worst case scenario and the bank calls your debt due in full, you can find a secondary institution to refinance.

Tons of value already,move in ready....brand new refrigerator, washer and dryer as well.Potential 5 years lease or worst-case scenario Airbnb.

I'm "okay" with losing money from business mistakes (e.g. contractor overcharging me), but getting scammed is the one thing I want to avoid at all cost.