Just be careful with PM's. I've had bad experiences with the ones that like to charge for repairs that they didn't do. Or... send me bills for unauthorized and undiscussed repairs. I would always tell them call me B4 you make a repair so I can at least have the choice of shopping the work out. This would annoy them because part of their revenue stream is doing the repairs in-house. Ask them to take pics and send them to you so you can assess what's being repaired and what you are being charged for when repairs are needed.
Also you gotta make sure they are not the type of PM's that rely on you NOT showing up to the property and keeping them honest. I had one say he replaced all the smoke alarms and when I went to the property guess how many smoke alarms I saw? NONE!
Also make sure you read your PM agreements thoroughly. They are sometimes very much weighted in the PM's favor. For instance one PM wanted to charge me a monthly fee even when I had a vacancy! Caveat emptor.
@Joe A. Thinking about investing in Allentown or Wilkes Barre, hows things going in these cities?
I don't know much about Wilkes Barre, but commercial projects in Allentown are plentiful (10,000 seat arena, mid-rises, etc.). Residential is catching up, slowly.
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