I do not want to deal with "I sent the money, I dont know what happened" type of stuff. 

This was something I thought that I was being friendly and personable as a landlord, but I still ended up getting burned for being nice Rereading this I feel like I sound a bit jaded, but it’s also better to rip off the band aid early on versus letting the bad stuff build up over time and hear things like “the other landlord was never like this” etc etc Best, Michael

The only ones preaching how easy it is or cost so little are those charging you for their training which is very basic simple stuff.  

Things I learned in my first job that have continued to prove valuable today: underwriting, managerial accounting, private equity deal structures, what a side letter is, what investors want out of deals, what a K-1 is, why real estate is a valuable investment class, what asset allocation is, where to find tenants, what cam is, how to handle Capex items in sophisticated underwritings, loan docs and negotiating terms thereof, understanding a lease, what an estoppel is, what a phase one and phase two are, how to read a PCA, basics of land use and zoning...Oh and best of all, I got paid to learn all of this stuff.  

You're down the street, in a metaphorical parking lot or a literal dining room, talking to someone who wants to unload their stuff fast and on the cheap.

My tenants work on stuff like this, but the heat exchanger is about the size of 20-40 school busses. 

They know stuff.

As a realtor there are lots of stuff we are not legally to say.

I realize stuff goes wrong and it's not always the PM's fault, but I'm trying to find a reasonable line in the sand where I start holding them accountable for the quality of their repairs.

My hope is to split the deal with someone and take care of all the property management stuff because it will be so close to my house.