Terrible PM and contractors-cautions out of state investors
A word to fellow investors from both coasts- too many liars and blood suckers waiting for opportunity to rip you off. If you're a working professional and haven't seen the ugly side of greed , traps, lying, betrayal etc. in the business world, Think twice before you jump in.
There's just too much risk investing out of state. The biggest is people. PM collected rent and ran away. Or placed tenant with recent eviction record into your property. Contractor grabbed money and disappeared or cut corner everywhere. Talk to other investors. I'm not the first one who bumped into these troubles, not the last either.
Even after doing business with a provider, there's no guarantee he/she's trustworthy. Maybe he's just waiting for the big feast! You can never be careful enough. And do not assume everyone on BP is a good guy.