I wanted to hear from others who are highly concerned with quality (maybe even were hands-on owners) and how they felt letting someone else take over their management operations and whether they found 3rd party managers to be able to sustain high quality or if it was a constant headache dealing with PM companies.

All you can do is respond to them quickly and professionally and get them resolved in a timely manner. 

Sending personalized letters with pictures and such is an amazing strategy when starting out because you can connect in a more meaningful manner with potential sellers.

Business needs Ethics to be sustainable. 

@Keyshawn Johnson I played baseball at Loyola University New Orleans and I’d say about 10-20% of the guys I played with/against between travel ball, high school and college are active in the industry so first the best advice I could give you is sustain and build those relationships because professionally I’ve found the best personal connections once you enter the industry are with guys you’ve built a relationship with playing sports.

Otherwise, a lender’s job is to simply provide you with the funds needed in a timely manner to pay for the property and/or cover rehab costs

So obviously that is not sustainable.

It will be hard to sustain or live off of that!

My wife is the PM so we always choose properties and tenants that will be unlikely to cause problems and instances have been few; the tenants respect her and her manner is very professional.In an earlier life I was a repo man in a Northern Ontario mining town I can't tell you how many individuals I personally hounded for payments, or how many cars I actually repossessed, easily in the thousands.

You have the gov. order on your side, so I'd open with tenant in a very strong manner, a kind of "here's all the way this can go down that you wont like", and than I'd step things back with "but here's the deal, we dont need to go that road, I dont want to and I surely know you dont want that kind of nightmare on your plate either, so let's do whats fair and decent here" and than give the pitch.