My loan officer ended up being a total rock star and going all the way to the president of the bank to make an exception for me!

The first year of any new rental (with some exceptions) is pretty lean.

In most large markets, none of these developments are that big of a deal, except that it is a smaller town that hasn’t seen much change until now.

There are exceptions, but $650 isn't even close.

. $450K will go a long ways in a lot of different markets (except for CA!)

The most effective rent collection method is whatever works for the tenant - except picking up rent!

So here are pros and cons of managing yourself.Pros:  you keep all profits (except 3% to credit card company), get to know guests, create a rapport with regular guests, make it personalized and memorable for your guests (my housekeeping staff was great and would leave flowers for anniversaries and balloons for bdays)Cons: Phone calls late at night sometimes, dealing with guests who are nasty and ignore your rules (ie no pets/no smoking, but it's nice having damage waiver in place), trial and error finding right housekeeping/maintenance/HVAC/plumbing people.Going with a property management company pros and cons:Pros:  they deal with all the issues and reservations callsCons: they may not be as attentive to your property as you would be and don't follow through with rules of no pets/no smoking.

David show me a politician in the United States who hasn't excepted bribes!!

Except, instead of using CL, I just ask friends if they know anyone who would like to make a few bucks hauling trash to the dump. 

I've decided to stop taking cash  Fair Housing regs forbid this - - the LL must take payment in any form offered.I never use receipts except on move-in for the deposit and 1st month's rent.Being a remote LL, cash is not an option.