Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

If they do and they update the tax records to show this, then you would have a clear shot at having the full square footage considered in a bank appraisalOne other thing to note is that the banks contract a third party AMC (Appraisal Management Company), who then hires the appraiser to perform the inspection and complete the report.

The activities of wife with respect to the rental properties included, among other things, cleaning common areas, collecting coins from washing machines, performing repairs at the properties, communicating with tenants, collecting and depositing rent, maintaining insurance policies, purchasing materials for the properties, as needed, paying bills and keeping books and records for tax accounting purposes.

Future lesson: unless you're 100% certain the unit will be vacant, don't rent it out before then OR be sure there's no recourse for your future tenants if you have to cancel the lease because you can't perform.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Then, perform extensive deep dives into each area—remotely, of course!

How has that performed for you?

How are your properties performing and why?

(While not the end all, those that have skin in the game should have a good sense of the market performance).- What's a realistic cap rate for STR's in the area?

Past performance is no guarantee of future results.If you're looking to have funds available for a RE down payment in several years, you're far better off holding onto your savings in a "high" interest savings or money market account.