To Hire or Not to Hire? That is the question...

[Thomas D Koeneman]

Looking into purchasing a SF 3b/1b property with-in 5 miles of my home to set up as an income property. Question, Do I hire a property manager to handle the rental? I have many years of HVAC and Construction background, so it's not about the repairs. Mostly the management issues. My concern is when it comes to vetting the tenants and possible eviction issues. My target tenant will be the local seminary students that are married and would be in the property for no more than 4 years. The seminary provides names of families that are looking for housing. The other option is 1 year lease to 4th year students that are returning from a 1 year vicarage out in the "field". The seminary provides housing for the single men but not for the married families. The property is less than 1/2 mile from the seminary so the possibility of long term vacancies is slim.

Tom