Make sure that you are compliant with CFPB regs else you will eliminate a large market of note buyers since their servicer will most likely refuse to service the loan if not compliant with federal regs.Bob

@Jason MakEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Joe PolyakEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I eventually want to build a real estate portfolio (renting out properties to build wealth) and have read a lot about mistakes of people rushing into it.

No profit, no room for a down day, no room for a **** up/mistake (i.e. warranty, slow time/winter)  There's alot more to "hourly" charges than just what the guy doing your work is taking home to his family.  

We are aware of the mistakes we have made so far have definitely learned to buy smarter at this point.

@Xavier AlicheEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

God has forgiven me for past big mistakes in life I’ve made, that’s for sure!

I have also found that if you eliminate your big ticket expenses, like rent, or a car payment- you can still afford those little luxuries.

Thats a fair amount of money to make a mistake with.