Benefits to managing STR for someone else

[Elaina Burkhart]

Hello, 

My husband and I started our journey in real estate investing a couple years ago. We have a LTR duplex and a STR lake house. I work part-time as a nurse and mama while my husband works fulltime. Both rentals are going well and I feel pretty comfortable managing them. I have an opportunity to manage a STR in a popular vacation area about 45min from our home. I am just wondering if this would be worth my time. I've read conflicting info about what a property manager charges from 10%-35%. What is a realistic percentage that I could ask for? The owner really wants to be as hands off as possible so it is a lot on me to manage, but I feel I can do it. We want to get into this popular area for our next STR so I thought managing one in the area would be beneficial. What are the downsides to managing for someone else? I know what goes into managing for ourselves, so I don't need a ton of input on that. I'm just trying to weigh the benefits and see if it's worth my time? Currently I just see the gaining experience aspect and getting paid for managing as the benefits. I also am not sure if I need any sort of licensure to manage for someone else? This is really more of a casual exchange between the owner and myself, but I would like to know if there is typically licensure requirements?

Thanks!