A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.  

@Joe Norman Those were the big 3 I figured would help the most, but I think wasn't sure how much actual applicability they had as a business owner/investor.

Still figuring that one out.

@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I completely understand that real estate is a slow and steady game, and I don’t expect overnight success.

I expect to see it rebranded as something else and I would still be cautious about using them, when they tell you they need to clear your funds overseas before ordering.

Ballpark, I'd probably expect between $1,000 to $1,500.

t happens, and it usually happens when one least expects it. 

When I asked him which one to pick, he told me that it was up to me to figure out.