- Broad language excusing PM from any responsibility (including that of anyone they subcontract out to)- Charging the owner additional "convenience fees" if they "fail" to perform according to an agreement (with broad language about what that means)- Making the owner pay for any mediation / attorney fees for both parties (with no cap specified)Specific fee structure: - Management Fee: 10% scheduled rents (up to 3 units); 8% up to 15; 6% up to 35- New tenants placement (not renewals): 50% first month rent- 10% mark-up on all service fees (no receipts required)- 15% mark-up on total cost for any capital expenditures- Flat turnover fee- Flat evictions fee

They are expensive but full coverage.

Can you afford to lose that money, knowing full-well that you may never get it back? 

Will interest rates increase, which in turn devalues the same raw dollars of NOI because of increased debt service costs?

Hey Adrian - There aren't many options out there for investment HELOCs, and the ones that are available will be full doc...meaning income, employment and DTI are used to qualify you.

However, I've read that lands contracts can exist where I'm not given the deed to the home until the loan amount is paid in full ($155,000.)

So, the even if the rent does not cover the debt service you can still potentially qualify. 

I am not sure on Florida, but typically Section 8 won't do a full inspection until you have found a tenant for the property.

Hello,I am graduating from business school June and will be moving to Charlotte full-time.

I hope pondering my points provides items to consider and that they are at least evaluated for likely validity for future acquisitions.good luck and learn as much as you can with this purchase   Full disclosure, I have enough rental properties that I've pivoted from buying and I'm helping other investors over the next couple of years via my Brokerage and 1-4 unit coaching.