Can Property Management be a real business?

[Bob Lowry]

I am a cash investor managing my own properties in CA. Due to high acquisition costs, I am limited in making the number of investment units I would desire, but do want to remain in touch with the market and generate a recurring revenue stream. Am considering opening a Property Management firm (already have a RE license in CA) to provide services to others, but would like opinions from this forum.

If I do it, I will invest in the management software, portals, and already have an experienced bookkeeper, but could use some words of advice.

Comments?