Just seems like a receipt for disaster if they hunt you down...start implemented the $500/day fines and try to hit you with back hotel occupancy taxes which most people probably didn't collect or escrow. 

Insurance - ValuePenguinRent control - Some states and metro areas have implemented various kinds of rent control.

And after that there was STILL so much demand that they had to implement the reservations system because the biggest problem was that even at the jacked up prices, the parks were still overcrowded.They literally couldn't charge enough money to keep the crowds down.That is finally starting to return to normal. 

Here are the numbers:I found a company, Livable (http://www.livable.com/), that will implement Ratio Utility Billing Services (RUBS) on this small of a building for $5 per unit/per month if I collect the money or $10 per unit/month if they handle the billing.

If you elect to choose a small operator you may not get a large equity play and you may not get a great value, as they are simply not bale to meet the demands of a sophisticated system nor do they have the mechanics to implement a sound system that allows you to take advantage of there economies of scale. 

Vacancy kills your returns....so you want to do everything you can to minimize the down time if you can.I think there are some other strategies to implement as well. 

With that being said, no one can put 10 years of experience, attend property management seminars, constantly studying, refining people reading skills, people management skills, implementing best property management systems, updating their knowledge on laws and policy changes, etc in a short post.

For me, distance isn't a factor as long as all the systems are intact and all due diligence is implemented. 

Never invest in any city on Neighborhood Scout’s 100 most dangerous cities list.Rent control - Some states and metro areas have implemented various kinds of rent control.

They do little to no training with the client for that price, so clients frequently don't understand the strategy they've been sold or how to effectively implement it.