A property management company that gets compensated even if you don’t have a well preforming rental… this is what's tough about being a landlord as opposed to passive LP partner.I just wanted to emphasize that on these forums there are a lot of DIY enthusiasts who may speak negatively about turnkey providers.

There's a lot on the line in this business and you have to deal with someone who respects that.I would like to emphasize what Steve Babiak mentioned, make sure you send the ex-tenants a letter explaining the itemized costs that their Sec Dep was used for.There definitely are good PM's out there and I strive to be one because this is MY business and my reputation on the line and I care about it.

I can't emphasize more here that I recommend avoiding the BRRR nonsense.

I'm just emphasizing that you do need appropriate reserves, and even if you don't use any money for a deal, you should still have money anyway, otherwise you're taking a huge risk.

It states that Adverse Action Notices may be delivered electronically and also emphasizes that "you must securely dispose of the report and any information you gathered from it".One of the examples is A landlord who makes it a practice to approve an application if the prospective tenant shows an adequate income or has a favorable credit report, is dealing with an applicant who has an inadequate income and a bad credit report.What if the reason for declining application is inadequate income and not the credit report?

Politely but firmly emphasize that access is required to maintain a safe, habitable home.Propose Multiple Appointment Options: Offer a few specific dates and times for the repairs, emphasizing that this is to address her reported issues.

So rather than overemphasizing WHICH market to chose, emphasize finding the right mentor/coach/team because it is possible to fail in a good investment market when you do not know what you are doing and to succeed in a more challenging market when you do know what you are doing. 

We can all have different tolerance for what we consider to be good and bad cashflow, it is also important to note that not all investment strategies emphasize cashflow.

(if you are in the right market).2) The ability to buy cheap from moms and pops with huge room for upside in rent increases and occupancy increases.3) The ability to obtain seller financing (which is what got me into the business to begin with).4) The huge underlying value in being in an industry that has not allowed new construction since the 1970s.5) The low management intensity when you are just renting land.6) The only remaining sector of real estate in the U.S. where you can hit 20%+ cash-on-cash returns if you are smart.7) The win/win business model of bringing old mobile home parks back to life.8) The beauty of being in a business sector that is on the right side of every American megatrend.But there are also the following drawbacks:1) Suffering through a huge negative stigma that makes you embarrassed to even tell people what you do sometimes.2) Suffering through some city halls that hate mobile home parks and everyone associated with them.3) Suffering through media that assumes that anyone who owns a mobile home park is therefore evil no matter what you do.4) High levels of risk (and almost certain failure) if you do not conduct good due diligence.5) The endless risk of private utilities unless properly vetted.6) Learning to adapt to the customer base and being a good landlord that gets the job done in a friendly way.7) Not getting involved in the hysteria of some markets that offer little in the areas of returns or safety.I cannot emphasize enough that this is not a get rich quick scheme, but a get rich slow scheme.

I do emphasize on showing that my 1800 property is not going to magically become modern.