These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

suggest you start with Dave Ramsey principals ... then move out from there.there is some big huge fallacy  that Real estate is going to let you quit your job and your going to have all this time for the kiddos etc.this will never happen in the short term with rental property.. you build a nice base for retirement in 30 plus years for sure.. but for short term replace your income and have all this free time you need to make transactional income with big hits.. your not going to get their with 200 to 300 a month cash flow on a levered up rental . 

He broke it down into what most people estimate, what a handyman would estimate, what a "paper contractor" would estimate (I had never heard that term before), and what a full team contractor would estimate, and the difference was eye-opening.

I currently live in a two-story home in North Dallas and recently saw a sign come up in my neighborhood for a one-story home that we originally wanted.

Hi Daniel,Do you means of collateralizing assets you own for a short term funds like a primary residence or other assets?

The plan is to rent out the top unit to a long term tenant and for us to live in the middle unit until we move out (if we ever do). 

So it is definitely a long term play. 

Originally posted by @John D.

I lived there myself for 4 years, then moved out and converted it to a super-profitable short-term rental (it's ideally situated near great restaurants/nightlife, the National Zoo, Rock Creek Park, and hotels that host professional conferences).

It's a term made up by Pace Morby to do escrows/act as a real estate agent and to circumvent any existing escrow agent fiduciary and legal requirements in closing Subject To Transactions.