Switching from PM to Self-Manage in the middle of an active lease

[Tyreek King-El]

Team, I am looking to beginning to self-manage my first rental, as I am actually moving not too far away from it with my second unit in about a month. What would be the best way to do this, and what challenges might I face? In my mind, I anticipate calling my PM and letting her know, and giving her a website that she can relay to the tenants for their future rent payments, work orders, questions, etc., and I'd pull the current leases and docs, upload them to what will be their new rent payment portal, and roll from there. 

This will significantly increase my cash flow, and I now have the capacity to feel comfortable doing so. Any advice is appreciated!

[Terrell Garren]

Self-manage 26 SFHs.  Been doing it for 12+ years.  I'm guessing I spend 10 hours a month on it. Residents absolutely know I am the owner and what I expect.  No management software as side from payment collection.  For problems, they call or text me directly.  I may look at the issue or just have them contact a trusted contractor to rearrange a service call.  Contractor sends me the bill. Easy, peasy, janpanesy. 

I suspect professional PM would cost me around $4K per month and select the first applicant that can fog a mirror and plans to change their Harley oil in my living room. 

Smart move, good luck to you.