I think another factor here in determining whether its a good investment is your age and your goals. 

There are also companies that will do it for $100-300 flat fee or $30-50/yr.

If you’re considering other custodians, I recommend focusing on those with a strong reputation for consistent customer service, transparent fees, and ease of account management.

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

A lot of the success stories and content we’ve seen in the past came from a very different rate environment, so I’m definitely factoring that into my approach.For now, I’m planning to focus on the Jackson County/MO area, specifically around Lee’s Summit where I have some local support from family.

Syndicated deals can be opaque, with high fees and limited control for passive investors.

Ideally the elected leaders can try to streamline the process like we did in FL by prioritizing the rebuilding permits & waiving permit fees.

I have RentRedi charge them a late fee after the 4th day if rent is not paid.

A recent example, “How much is the monthly association fee?”

Are you not charging the guests a cleaning fee?