It is a distraction and bringing it in house will not save you enough money to justify it.

Fees should be clearly stated in writing, easy to understand, and justifiable.

Fees should be clearly stated in writing, easy to understand, and justifiable.

But As depreciation winds down cash flow to justify holding the asset even without depreciation benefit becomes a very significant component.

You are rightfully cautious and your feelings may be justified. 

It's rare that you'll ever make it to court, especially if you document with pictures before/after each tenant.There's more to consider as you gain experience, but this is an easily justifiable model to follow.

Is the price justified, does it pay for itself is it stabilized or not.

As soon as the investment starts to perform well, there is so much equity in the property that it is hard to justify keeping your capital in that asset.

We have not had any major headaches in the couple years of renting to them, and the extra cashflow more than justifies the extra paperwork on the front end.

Where many inexperienced investors fail is in assuming that because the property is cheap, bringing it up to rent-able standards justifies cost over market value.