Early last year, one of our borrowers, an extremely experienced rehabber who had recently been diagnosed with diabetes, informed us that he’d been in and out of the hospital so frequently that he wouldn’t be able to complete the flip we had loaned on as first position lenders.We were aware that he had borrowed an additional $110k from a second-position lender.

He was a good guy” and his information  on buying at tax or foreclosure sales was realistic and doable. 

She did move in two cats during her tenancy (with my permission after the fact), and the house was left in fairly good condition when she moved out:Most holes were patched (though some in the basement were missed).It was moderately clean but needed extra cleaning due to cat hair in the carpets.Minor issues included:A missing doorbell.Missing shower hardware.One of the window blinds needed replacement.A truck bed full of items left in the shed that I had to haul away.Since I was in a pinch between Christmas and New Year’s, I hired professional cleaners for a quick turnaround.

Just got off the phone with another DIY landlord looking to hire a PMC.They really didn't like our response to their question, "How long does it take you to find a tenant?"

or what details can you share about how you package everything together...that would be great information for the community!

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

@Drew Sygit  This is great and thank you so much for all the detailed information! 

I will definitely take all this information and use it responsibly.

Tenants should certainly take responsibility for maintaining the property and promptly informing the landlord of any maintenance concerns.

Hire an attorney to handle this, or it'll cost more and take longer than necessary.