How to lose money extremely fast in property management...

1 - Forget about trying to get the problem fixed over the phone with the help of a handy roommate
2 - Don't ever check up on repairs until they become a gigantic problem
3 - When problems do come up, don't check them out yourself, hire a handyman at $70 an hour to diagnose the problem, and then have him refer you out to someone else who charges $110 per hour
4 - Don't bother asking someone upfront how much they're going to charge
5 - Don't ask for a better price either, just let them stick it to you
6 - While they're there, let them do as much work as they want
7 - Don't be specific on what needs to be done
8 - Don't ask them when it can get done
9 - Don't follow up to make sure it got done on time
10 - If it didn't get fixed right, don't say anything

Improvement Contracting
1 - Scope
2 - Time
3 - Cost
4 - Expectations
5 - Measurement of Completions
6 - Invoices in on Wednesday, Payment out on Friday (Work not 100% done, no payment sent!)