Self Managing an out of state property vs hiring a manager

[Travis Hole]

Hey everyone,

Working through the purchase of my first out of state rental, and I was looking for advice and pros/cons of self managing vs hiring a property manager. Can anyone with experience in managing property out of their area comment on the difficulties involved?

Thanks in advance for any responses.

[James Wise]

Originally posted by @Travis Hole:

Hey everyone,

Working through the purchase of my first out of state rental, and I was looking for advice and pros/cons of self managing vs hiring a property manager. Can anyone with experience in managing property out of their area comment on the difficulties involved?

Thanks in advance for any responses.

 No reason to attempt to self manage your 1st out of state rental on your own. This is a missing dollars to collect dimes activity. Put the right people in place to take care of the investment for you. Rental properties chug along just fine until you get that emergency & if you're 2,000+ miles away with no contacts how are you gonna handle it?