First time landlord. Any advice that I NEED to know

[Nadir M.]

I recently bought my third rental property. The other two are currently managed by my PM. My wife and I want to attempt to manage this one by ourselves. Personally, I want to hand it off to my PM but she really wants to gain the experience of managing on her own. This is an out of state deal. Parents live in the state where this house is located. I have a reliable HVAC and plumber. The house is in good standing condition. I wanted to write a post to get some suggestions or advice before attempted to self manage. I’m using Zillow to advertise as well as running a background check. Using Cozi for collecting rent. My lease I bought from BP. What are some rookie mistakes that are made and how can I prevent them?

Thank you,