I know every tenant has to have a first rental at some point, but good people 99% of the time have good family willing to help them out to get that start.My point was more-so that if the PM and landlord agree on qualifications (which should be driven by the experience of the PM and their market knowledge), then the landlord is in no position to blame the PM if the tenant goes sour - we can't control the tenant's life, only mitigate the risk/damages.

I've been wanting to get involved in real estate for a few years now, but never took the step.

If you're more of a risk taker, invested in a flooded home and purchase it as a discount to repair it back together, rent it then sale it later when the value has gone up and people don't assume we flood like this all the time.

Sometimes the agents involved don't have any clue what the property should sell for so you're helping educate them.

Unless it's a sure thing (and I have yet to see one of those) and he is an experienced contractor putting up a lot of sweat/time to do the rehab, your money should be worth SIGNIFICANTLY more for the risk you are tossing at it.  

@Brian Halstead,Sorry to hear about your troubles with your insurance broker.I work for Fenix Risk Management, an independent insurance agency licensed to do business in Florida with access to multiple carriers in multiple markets.

They are fantastic people (mostly), but they are involved in the transaction not committed to it.

If you attempt to transfer to an LLC, you risk having to pay back the loan if the bank finds the deed was transferred.

Police won't get involved, it's a housing court matter. 

Furthermore, there is no legwork involved.