(I'm in Cleveland, OH) I'm happy to look over your PM agreement if you want an extra set of eyes, always seem to find something of value in those! 

They should be upfront how they take over your account.

However one thing I didn't anticipate was, while the aged sewer line could easily hand two people living in the property, when my tenants moved in and when the load on the sewer system went to five people, it couldn't keep up.Turns out the line had been damaged over time (orangeburg pipe) and was too narrow, so I had to pay to get it replaced. 

Please check my numbers and let me know how we did and maybe what specifically is good, bad, and potentially concerning.

Borrowing from the equity must be done wisely or you will end up with negative cash flow and at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

If I could do it all over again I would entertain more contractors but overall the project was a success.

He had a HUGE red flag warning and just kept motoring on and now is acting shocked the tenant continued to screw him over

Have some debt/lien (don't confuse this with over leveraging.)

After over 30 years here, I've seen it transition from cash flow to appreciation. 

That will certainly help the value, but not up over $1m difference from local experts who know the house.