They seem legit insofar as everything seems legal and kosher.  

You're running a business...you are not a social services provider. 

So, in actuality the divide between “good” PMs and “bad” ones is probably no different than any other service provider, be it real estate broker, mortgage originator, etc.The key word I has in my sentence was MAY; as in MAY be hazardous to your financial health.  

Could be the tenant is not using the service, doing something to attract roaches or the exterminator isn't doing their job.

Hi KyleThe way most real estate for sale is priced these days there’s little to no cash flow after debt service with 25% down - borrowing a down payment would put the investor in a negative monthly position. 

any lender wants to know how you plan to service the debt.

You're financed at 100% and would be in big trouble if (when) ANYTHING went wrong....would the property even cash flow enough to service all of that debt? 

Their algo isn't sophisticated enough, yet, to accommodate natural disasters and inventory shortages so it's most likely responding to the incredible demand (and unaware of the legal implications).

So I contacted the tax collectors office and was told there was a legal loophole and that since the building had been owned by a non-profit for part of the year it would receive tax exempt status for the full year.

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.