By the time you paint, make repairs, clean, pay for advertising and vacancies you could be well over 2K or 3K dollars. 

Now no more frustration.You can obviously evict the tenant but be prepared for that major turnover expense as well; paint, carpet, cleaning, landscaping, utilities, repairs, etc.As far as PM's doing extra work chasing non-payers; 100% they do extra work.

Harry,Most people have more of an adversion or fear of not gettting along with their house mates and not having "clean" common areas.

I cleaned up the plumbers' mess, and my tenant got a new faucet.  

Rental Income                   97,308.33              99.5%Total Income                     97,813.33            100.0%Expenses1155 Crawford Supplies            1,395.85               1.4%Carpet Cleanings                          145.00               0.1%Dumpster Rental                             59.78               0.1%HVAC                                        10,188.30            10.4%Insurance                                    6,099.35              6.2%Interest Expense                       19,672.53            20.1%Labor                                           9,644.56              9.9%Legal and Professional Fees          500.00              0.5%Licenses and Permits                       25.00              0.0%Mgt Fee                                        1,600.00             1.6% (although it says he managed it                                                                                                              personally)Office Supplies                                  50.00              0.1%Pest Control                                     800.00             0.8%Property Tax Expense                  4,369.76              4.5%Rent                                                 155.00              0.2% (not sure what this is for)Rental Equipment                             222.92              0.2%Repairs and Maintenance              5,929.69              6.1%Supplies and Materials                  8,867.40              9.1%Utilities                                           6,270.92               6.4%Total Expense                              75,996.06             77.7%Net Ordinary Income                    21,817.27             22.3%Cap Rate at asking price of           $899,900             2.42%I did some PVA searching and found the assessed value to be at $543,171 which would put taxes at $6092.75 for the year.

I simply let them know I can do the easy stuff, change light bulbs, clean up trash, walk the property, accept payments, get bids, collect rents and make deposits.What I found odd is that personal checks are not accepted there.

I decided not to gut it and make it like new, but, just make it Rental Ready with all repairs and termite tent and ten year roof with Central AC, paint and clean and Sell it for $60K less than the one that they gutted next door.

I gave my $300,000 move-in ready beautiful vacant home to this large well known local co in Oct 2016.( Ive owned and self-managed another very similar rental in the same subdivision-- since 1998--and it has never had one day of vacancy in 16 years-- rented at $1860.)This professional pm co put all utilities in their name on my new property and turned the hot water heater ON and the Water ON ( even tho the main water cutoff valve is easily accessible in the coat closet beside the garage, the entire 3 months they 'managed it').They let the property sit VACANT OCT-NOVand on their "routine inspection on Dec 1, to make sure hobos had not moved in" they SAW the water heater in the garage was spewing (at full blast) A 20' stream/ fountain of HOT WATERand that the entire finished closed garage was covered COVERED !!

I'm tired of having one source of income, I've always had 2 or 3 sources through rentals, office cleaning business, my HVAC business, etc.

Tenant is a hoarder and needs lots of cleaning.