It can strengthen your relationship with your property manager and demonstrate that you value their contributions to your business.It helps ensure compliance with lease agreements.Many lease agreements require landlords to name their property managers as additional insured parties on their insurance policies.

Are there additional steps you take when screening applicants, or do you take fewer steps?

As JD said, the tenant must list the landlord as "additional interest" on the policy.

It’s a good idea to work with a qualified intermediary and a tax advisor to ensure everything is structured properly and you’re clear on any tax implications.

Additionally, ensure that all necessary notices for filing an eviction have been posted and properly documented in your records.

Quote from @Zara Massoud: Hi, The PM company we signed on has a clause to add them as 'additional insured'.

I am considering building up on my fourplex. 2 additional units.

Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry).

My goal is to leverage that equity for additional income.

Despite no additional renovations being necessary, our efficient strategy and swift turnaround led to a same-day sale at $225,000.