also, my properties perform pretty well (both in terms of cashflow and appreciation), which makes managing them much more enjoyable (the job would be pretty miserable if you're not making much money, or losing money).I would assume you're correct -- that people who have C and lower properties (or properties that don't make much money) often drop out pretty quickly...managing a D property would be extremely stressful and difficult--not a job I'd want (not for any amount of cashflow)!

Aloha,You might want to take a look at what is used for HOA's to perform their Reserve Funding analysis.

I can essentially serve as a property manager: tending to the house (cleaning, maintenance, etc), working and coordinating with any affiliated contractors, and I can even perform rent-roll, T-12, or DCF financial analysis for you on the property, or look for other properties as well.

If I'm going to deviate from my process, I talk to the Landlord to explain my plan and ensure they are on board.You signed the contract and probably can't do much to change it now, but in the future you should be clear about your expectations and confirm the PM can perform to your standard. 

I would focus on finding an apartment to rent and then utilize this summer to get to know neighborhoods and casually look for properties. 

While I have had more and more conversations with owners who are opting to rent after their property is not performing on the market, they are typically seeing more showings that 2 in 34 days?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Meanwhile, our existing properties are well-capitalized and performing well in solid, steady markets.  

right I answer this for Cody actually, I know you know this stuffs Steven :)Just telling any newbie investor, it's possible for 7% interest-rate mortgage to perform on the same level to 2% mortgage rate performance if one plans accordingly.What do we need to do ?

Sell for $225k, use that cash to buy better performing assets outside of California.