Owner Occupied Rent by the Room Property Management

[Daniel Guerra]

I plan on living in a home and doing a rent by the room. Should I do the landlording myself or just hire a property manager?

I have a W2 job (40-80 hours a week) and a Real Estate business (getting close to quitting my W2 job to focus 100% on my business).

I don't believe managing the property is much work but finding the right tenants to live with could take a ton of work. I don't plan on living in the property for a long time though (1-2 years).

Thoughts? Thanks!

[Shelon Hutchinson]

Daniel 

It will come down to cash flow. How much would it cost to manage the property in regards to dollar amount for paying a property manager and also your time and trying to finding a proper tenants have to work in 40-80 hours per week.

 I had a friend that purchased a triplex and he lived in one of the units. He hired a professional property manager anyway.  I believe it improves the comfortability of the tenants who lives there.

But it has to make Common Sense, Dollars Sense and Business Sense.