Being a property manager is a tough, labor-intensive and emotionally draining proposition. It can be very time-consuming, affecting your evenings, weekends and other quality times. If run incorrectly it can cost you tens of thousands of dollars in both time and money. You must be up to date on the current Arizona Landlord Tenant Act, Fair Housing, accounting principles, and practices as well as all related discrimination laws and how they relate to all parties. You must have reliable contractors and handymen that will be fair in price and do an exceptional job with their quality of work or do the repair work yourself. Wow, why would anyone want to self-manage or be a licensed property manager?