I think I'm crazy - feel free to agree !

[Mark Ansems]

Hi All,

I'm not handy, never have been.  My job growing up was to break all of the equipment on our farm so my dad could fix it.  (he wouldn't suggest that was my "job" but would suggest I was really good at it)

I had no real estate experience other my own personal residence.........and no one I know would suggest I'm great at keeping up on the maintenance.

Yet somehow I've managed to buy 20 units in the past 18 months in Kansas City and outside of Orlando (properties ranging from SFR to 7 units). And I really enjoy it.

Oh and by the way, my nearest property is a 3 hour flight away. 

Other than the question of "am I crazy" (and feel free to provide your opinion) my real question relates to property management.

I consider myself a newbie and my challenge is in taking on a new property (I always use a local property manager).  What is the right balance of interaction/communication with the property manager?  Some properties have stabilized and become cashflow positive quickly with little value add on my part; others have dragged on (and on.........and on). 

Question:

What is the right balance between micro managing the property manager (and possibly annoying to the point of being counter productive) vs giving the property manager too much leeway (and realizing too late that the property manager might not be adequate)?

Thanks in advance.  Love the BP site.  Great info to be found.