We are often able to keep turn over costs in the $500 -$1000 range and that is for larger 2500 sf + single family homes, some of which have two story great rooms.My PM fees vary based on how many units an owner is giving me, and where the property is located etc, but are more than what you're paying but I probably include a lot more services.I offer performance guarantees, but there is no way I would have a Management Agreement that just allowed an owner to walk - they would owe me the remainder term fees if that happened.There is no way I would as an investor, pay tenant utilities at all - if the utilities were not separately metered, I would first determine if I could legally charge the tenants for the utilities in your area or I would not buy the property.There are many things you can do in a lease to protect yourself and reduce your costs (and that may be an issue with your PM's lack of experience - or it could be that your state is very landlord unfriendly) but here are a few items I would have in the lease if allowed in your area:The tenant must thoroughly clean the unit including any carpeting at move-out - we have a detailed example list of tenant cleaning responsibilities in our tenant handbook.We only accept the most financially highly qualified tenants, and often have tenants renew leases, but if a tenant wants or needs to break their lease early, there is a multi month Early Termination fee to help us defray off market time and turnkey make-ready costs due to early termination.Our tenants are responsible for both Pest/insect control and exterior landscape upkeep - though in an inner city townhouse/triplex set up tenant responsible landscape may not be feasible.

And if you find a realtor that works with investors not only can they find you tenants now and in the future but they can also keep their eye out for deals if they know how.

"Tenants Lease rights protected with the transfer of property ownership." 

@Jeremiah Pangan I got "The Book On Rental Property Investing" - so amazing and eye opening!

When it comes to investing ones equity nest egg or retirement savings people often want to be able to look the sponsor in the eyes, have a conversation and get their read.

Still, I'd be familiar with the protecting tenants at foreclosure act that was rekindled last year, for Federal rule guidance and then of course, your local or state rules as well.

It’s widely accepted that real estate is America’s best tax shelter, but when you consider its other benefits (income, control over investment, forced appreciation, the ability to leverage, and protection from inflation), it’s easy to understand why real estate is also America’s best investment, and your best path to that most sought-after lifestyle…Freedom.Ian Parrish

If you have the credit score, income documents and the right DTI, I don't think you will get a better rate anywhere else.Just protect yourself and put an extension on the contract.

If they have a podcast, share it, comment, like, and get more eyes on it.

How do you protect your clients from Fair Housing Claims?