A management company will be able to market the home, push the listing to all the rental sites, process applications, and have a lease for you to use. 

He has a very diligent vetting process.

You are only getting charged 1 point + about $1200 in UW/Processing fees.

The units are currently occupied with tenants and is being rented for $1280 each ($2560 minus $500 HOA: $2060 Net Earnings).

You will learn a lot through the process of adding value to their business + you may end up getting hired. 

Since I am not using a lender during the escrow process, what are the checklist of things to consider once a property is under contract?

@Tsering Lhamo many PMCs haven't updated their processes to collecting Holding Fees - NOT deposits.A deposit is refundable and very difficult to liquidate for damages.A Holding Fee is a fee, so not refundable.You need to understand what your PMC signed with the prospect.

I'm in the process of researching the Lafayette, Indiana market for potential rental property investments.

Hi,I am in the process of purchasing a property currently occupied by tenants.

But then there are so many processes you have to go through that it isn’t really worth it.