STR deal evaluation / calculation - self managed vs. PM

[AJ Lee]

Planning on searching for our first STR, preferably a vacation/beach area. We need guidance on how to evaluate/analyze a property such as numbers to plug in, in two different scenarios. One if self-managed and 2 if hiring Property Manager, in case it becomes challenging to self-manage. Calculating all the costs for buying a property and its operational expense, etc. That way, when we see a certain property, we don't take forever to evaluate if the numbers work or not.

The STR location if we get a beach property will be a long distance from us, so I wonder how self-managed STR is done or how challenging it would be.

If you guys have great information you can share or reliable free source, would be greatly appreciated!