I don't care what other companies say they charge in your area.That is cheap especially in California where gas is very high and cost of living.We get 10% down here in Georgia easily and gas is cheaper and cost of living is much cheaper and margins are already slim structured that way.With that kind of money you had I would have went after apartments instead of a house or 2 but that's a moot point.I do know California in some areas has very friendly tenant laws that are not in favor of the landlord.I am surprised you did not research this more before purchasing as to eviction time lines.You can pay an attorney but they are extremely expensive.I saw an attorney in eviction court lose his case for his client and the tenant got another month of free rent.Just because they are an attorney doesn't mean they are competent.If you must pay an attorney you bombard them with questions and write down the answers and learn the process so that next time you can file for yourself and save your money.The question is how much do you make per hour with your business or job??

It easily takes 60 days or more for last invoices (for work done while they were managing) to be received and paid, finalize their accounting, close the month end reports and provide your final reports, and any remaining balance due, to you.

If they are professional, they can explain this quickly and easily.

Im in New England so we have winter atm - which slows down the market anyways - but our blackout dates for securing renters easily for landlords is Thanksgiving until February when taxes start.

Chicago does not allow you to build new 2-4 unit rentals on the north side (not easily or profitibly atleast) and each year more and more 2-4 units are torn down/gutted into single families making that supply lower and lower by the year. 

Asset protection is also irrelevant because LP shares are illiquid and cannot be easily separated from their owners. 

If it's in an upscale community, you can easily get up to $2000 per month (for just a 1 or 2 bedroom).

If they are professional, they can explain this quickly and easily.

Idiot proofing the rental, investigating, and knowing how often it freezes in the area meanwhile keeping guests out of the hot seat by removing anyways from unplugging, great answer

I'm picturing whatever I'm plugging in not seating well into the receptacle.