Managing properties remotely

[Ben M.]

Is it possible to manage a property remotely efficiently without a property manager? Can you hire everything out such as make ready, eviction, but only on as needed basis?

[Drew Sygit]

@Ben M. it's entirely possible, but NOT as easy as everyone represents.

Yes, it's easy WHEN EVERYTHING IS GOING RIGHT!

Here are some challenges:

1) Who will handle access for an appraiser, insurance inspector, etc if a tenant won't cooperate?
2) How will you verify repairs are properly done BEFORE making final payment to contractor?
3) How will you handle a neighbor causing problems or complaining about your tenant?
4) What happens if tenant or contractor causes an issue that results in a required court appearance? Who goes to court?

It also depends on property/tenant demographics:

Class A is relatively easy to manage, can even be DIY remote managed from another state. Can usually allot 5-10% vacancy factor and same for maintenance.

Class B usually also okay, but needs more attention from owner and/or PMC. 

Class C can be relatively successful with a great PMC (do NOT hire the cheapest!), but very difficult to DIY remote manage. 

Class D pretty much requires an OWNER to be on location and at the property 3-4 times/week. Most quality PMCs will not manage these properties as they understand most owners won’t pay them enough for the time required and even then it’s too difficult successfully manage them.
***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.

https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?highlight_post=5562799&page=3#p5562799