We took out a bridge loan 24 month term with 2 extensions.

@Jared SmithIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

The new owner selected a different PM. 

I know most of the online auctions in Alabama get bid down to 0% interest, and then I believe you said a random bidder is selected from all of the ones that bid 0%. 

@Jason MakEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Joe PolyakEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Not only do you want to know if it is a place that you'd like to live, but you should also conduct extensive research while living there to determine if it is a market suitable for real estate investment in accordance with your family's goals. 

Ask for the extension to fix this. 

This approval process requires borrowers to submit extensive documentation concerning their credit history, income, assets, and monthly debt payments, which usually takes well over a month to complete.

This saves us so much time and aggravation.5) Find an HVAC company and a plumbing that are use to working with landlords and who will schedule directly with your tenants.6) Get the bookkeeping done for your hud statements in whatever accounting/management system you select and keep up with the bookkeeping from the start.I actually love text for dealing with tenants... you get instant communication and a written record of all agreements.