The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

I would also recommend that investors ask syndicators if they are over-raising to provide extra cash to fund investor distributions in the first year. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

After paying that initial 80K loan off, can that extra 20K be used for anything or does it have to be expenses related to that specific home? 

I know this is based on the goals I have for my self but a general rule of thumb, after deducting expenses from my cash flow, should I A) Use the extra $ and put it in the mortgage B) Save, save, save to buy another property in the futureC) Is there a third option that I'm missing?

Those events were extra, not included in the GA ticket.

Why work extra hard if the tax implications make it so that it would have been better not to do the deal?!  

X would like to find new boyfriend to move in with because she can then rent the whole square footage and possibly pocket as much (or more) than section-8 pays the owner for the unit.The rooms may or may not come with stove privileges (at an extra cost).The subletors must (keep their heads down) at the rental and not be a problem (while there) and pay on time. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Definitely worth the extra money.