Branch into property management or no?

[Joey B.]

I have been managing my own properties for 5 years. I've had good luck and do fairly extensive background checks and keep renters on a short leash.

I have wondered if I could generate some more cash flow by managing single family homes for people who either got into the business and realized the management part wasn't for them or bought a better house and couldn't sell their old one so they decided to rent.

For it to be even close to worth my time I would need 10% or the rents, which on a 500$ -600$ rental I think is reasonable.

My biggest issue is that I carefully chose my properties based on many things with class of potential renters being important. I was looking for bang for the buck, but also be able to rent to decent people. If I manage others properties things like location and condition are more out of my control. I only manage two single family homes at this point.

What are some of your thoughts?