If you don't have a lien, and the appraisal comes in lower, then you are capped at 75% rather than 80% on a R&T which might leave your PML a little shortOtherwise, it might just be "cross your fingers and hope for higher appraisal" category.

As I am running numbers on properties, is it safe to expect the county to match the appraised value based on the most recent transaction?

K&T is dangerous and not worth the risk.

Took me 10 years and several hundred tenants to get good at it, so expect to make a few mistakes.

@Daniel LangRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

As an investor, I see a great property manager as my boots on the ground, someone who’s looking out for my property like it’s their own.I expect them to handle the day-to-day stuff: tenant communication, maintenance, rent collection, turnovers, etc , without needing me to step in all the time.

Letting the l/t judge open the letter for themselves is great evidence in our favor.Other than that, stop communicating with that tenant--it's in the court's hands at this point.A great word to keep in mind with this type of recalcitrant tenant:  "Next!"

They will expect you to put it in a silver platter.Marketing.  

If you want to understand them, you’ll need to pay a lawyer, and it’s not unreasonable to expect costs around $2,000.

How much money do you expect to be able to pull out of the current rental and still have it cash flow?