On the REIT side - When these investments go underwater, often the sponsor company will freeze or drastically reduce redemptions.

Call some local HVAC/Mechanical companies and ask what the average cost would be for this upgrade! 

Plus, you get amazing appreciation potential due to how much population growth, job growth, and companies moving and developing here.

Hey @Dean Attali or @Matt Altrich,I'm starting to take a look at PM companies and came across M&M Property Pros.

Just outline expectations and roles, and what each of you guys are going to do, and how properties will be acquired and how they will be disposed of, and how and when money will be taken out of the company and you should be good.

I'd also recommend you have a good relationship with an investor-focused Realtor that can connect you with a solid Property Management company, etc. 

I own a home improvement company and also completed a flip with great ROI.

We do tend to know what appropriate rents are for the different times of year, although you can't hold to those permanently. 

Where did you find this company and or was it referred to you.2. did you go with them because their fee's and interest rates were advertised as lower than other lenders.

Maybe consider getting a p.m. company that would do some boots on the ground and some research for you to find out what some of these issues could be because you are not close to the residence in the location, unless you can do some research yourself online, or consult with the historical Society of the area, look things up at the library, there are lots of different ways that you could start this process, but my point being that you may end up losing more money in the long run.