Questions about self-managing a property

[Paul Lee]

I'm in the process of closing on a multi-family unit that I'll be owner-occupying and self-managing. A lot of the feedback I've received from more seasoned RE investors is that I should try to self-manage for the first investment property.

I'm fine with showing/leasing the property and keeping it clean, but for the other issues (water leaks, HVAC issues, etc) I want to hire a more experienced person to examine the issues and determine if he/she can fix it him/herself or if a specialized third party needs to be called (plumber, electrician, etc.).

Which of the following options are the best in my scenario?

• Self-manage and hire an on-call handyman, as well as get a list of go-to specialized third parties (probably the least expensive and I get a better understanding of managing properties)
• Just hire a property manager and be done with it (probably the most expensive)
• Other?

Thanks in advance.