How would you manage risk? 

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

Ask them to update your photos and put your best foot forward.If the market is doing well and your PM is marketing poorly, then you have a case for complaint and/or moving to a new manager.

Hi All,I have a SF LTR that I’m self-managing on the passive side.

Then they will manage the contractor to make sure the work is done properly. 

If you can't manage what you currently have, you won't manage additional income from investments.

I am planning to self manage as well and since there aren't many managers in my area I will likely employ a similar strategy once I decide to outsource the management.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.