How to manage 4 Flex 1h45 mins away without property manager?

[Matta Nguyen]

Hi.

So a little bit about my situation. I'm a 26 year old female that have full-time job and have been very interested in real estate. Right now I have the option to put in offer for either a Condo in Capitol Hill Seattle or a multi-unit in Tacoma city, WA. I live in North Seattle Area where it could take 1:45' to Tacoma and 20' to Capitol Hill Seattle. 

I have always been looking for a multi-unit with good cash-flow however Seattle area has been a tough market. Its price has jumped significantly last couple years (slower down now but still) , multi-unit having positive CF in my price range is  very competitive which  pushed my search to nearby Cities and led me to a 4flex in Tacoma. The four-flex is in good shape with solid income and low vacancy rate. I want to manage the place without property manager since I think it's a real practice for myself. Thinking about training tenants to paying rent through direct deposit or online software. I'm also planning to visit the property once a week or once every other week. 

However, I don't have the team with me at the moment, also the fact that I live so far from the place. The fear of having something breaks down, tenant's request when I don't know what to do or able to get there right away make me feel a little nervous of this deal. I'm thinking in getting contractors come and evaluate during the inspection period with the thought it I could potentially find a great contractor to work with if tenants have problem...

At the same time, while searching for potential investment, I came across a 2 bed-room condo in Capitol Hill with low HOA, It raised an idea in me that this condo could brought me great CF with short-term rental (airbnb). It is definitely not my ideal investment since I know how HOA and assessment are out of my control. However it is in prime location with desperate seller that I thought I could get a good deal from it.

Very different type of properties! I personally would want both in my portfolio but for now I have to decide and go with one that make more sense

...If it were you which one you would choose? and if you choose 4flex that is 1 hour and half away, what is the most efficient way to manage it by yourself? How to make a great team with you.

[Erich Bubbel]

@Matta Nguyen. If you have the money to purchase the 4 unit, I would recommend going that route for your first investment because if one tenant moves out you won't fell the "pain" as much as if a single tenant condo were to go vacant.

It's a great idea to have an expert walk through the property with you on anytime of investment  but if you cannot get a contractor before you make the offer most likely you will still have some time during you feasibility period to get that done.