Already half way through the book @Brandon Turner!

So much info here, I think I have listened to half of the podcast already =)

I pay 7%, full months rent for finding a new tenant, flat fee ($100) for processing a renewal, and half-months rent if the PM manages (eg; gets multiple bids, contracts out the work, etc.) any turn-over repairs, or I can do that on my own.I've got 10 properties with them and average 2 vacancies per year, so my effective rate to them is 7% of rent-roll + 2 months rent + $800 + 1 add'l month rent (2 x 1/2) for managing turnover repairs. 

When your total net worth is $200K and half of your monthly cash flow goes to attorneys and accounts and corporate filing fees and you're setting up LLCs to manage your LLCs and there is a fundamental problem and all of this talk is almost to the point of fear mongering.

@Zachary Gwin  Welcome to the Mile High city and to BP! 

Rejected.Tomorrow I'll be making three more offers.So far, since putting the signs out a week and one day ago, I've averaged four calls a day, half of those leading to an offer.No deal yet, but I've grown completely comfortable with screening leads and making offers.

I will have $30k to use, but I would like to use about half for renovations (if needed) and the other half as a down payment on the property.

Look at the crime ring around the area in a 2 miles radius.

They did work to the house without my consent, and blamed it on email not getting to me so they assumed it was OK (needless to say words were exchanged, they paid half).I am more on the Laissez-faire style of management when it comes to my management skills being at work or in business.

My experience with contractors start with in writing and pay only 1/3 up front, 1/3 better than half of the work done, last payment when they finish with no returns necessary after inspection to fix something they missed or messed up.