Renting out of state without PM

[Alex D.]

Hey BP!

I did a little research but it was a little difficult to come up with consise steps or others experience so I wanted to ask!

Let me provide background! I purchased my first primary exactly a year ago. I had the intention of staying in the property long term. I had a million things going on as well as being sent on deployment training spontaneously while searching for a home. With that being said, I allowed emotion to take charge and instantly fell for a condo at the same time making a ton of costly mistakes on TOP of it being a condo.

I caught the real estate bug hard and have been doing research, finishing up a virginia license, etc. Problem is, i'm looking to rent it out and make it my first rental but can not do so without being negative each month with a PM. 

This particular property is in kapolei, hawaii and I was thrown on orders to be in the northern virginia area. I will have to do everything long distance. I managed to get the place tenate ready however wanted to know if some people felt it was worth paying the extra to have it managed or did it long distance? I would have to hire people I have never met considering the contacts I've had outside of the agent, no longer reside there.

Any guidance would greatly be appreciated! I'm making the best out of  a sticky situation however oddly thrilled I'm getting to learn and be able to show commitment. Nothing forced you to be more serious then when it's your money haha.

[Brent Coombs]

@Alex D., if hiring a PM turns it from a wobbly return into a definitely negative return, I suggest it should be sold - to another owner occupier who falls in love with it! Lesson learned?

It's often sad to see what tenants do, in short order, to wonderfully loved ex-primaries. 

Next time, given that you may often need to be on the move, best to look through Investor-eyes from the very start? Thank you for your service. All the best...