It's important to know your numbers and metrics and that helps do that

Do you use any tools or services to automate the process, or is it something you manually handle?

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

If you are able to manage it yourself, I think you will get a lot of very helpful education in real estate by spending a least a year or two doing that.You'll be able to work with property managers a lot better if you've done the work yourself for a bit, and it also helps to get familiar with the various laws and regulations you have to comply with as the owner, even if you do have a property manager in place (e.g., the new RI rental registry and associated lead paint inspections/certificates).It's up to you whether you're able to do it, but I think you'll get a lot out of the experience if you can try it for a year or two.

Title III of the ADA requires the removal of architectural barriers in existing facilities unless it can be shown that removing the barrier is "not readily achievable."

@Shannon VistisenI would definitely purchase it and do it yourself. 

AssetsAsk yourself: Do I want cash that depreciates with inflation and taxes, or do I want to build wealth?

If you want to do it yourself, be ready to answer text messages at 3 AM, solve problems within a 2 hour window, deal with contractors who aren’t able to “turn” a vacancy quick enough, and guests who want “instant” gratification.  

If you do a good job picking tenants, you will be fine.

Water you could have a plumber do it or do it yourself if you do the sub-meter route.