I think the next level is commercial properties. 

The inventory level is low and prices are rising as shown in the excellent stats that others posted.The low inventory level is another factor that differentiates today from the 2008 crash.

If you make 300 profit on a $1,000 a month rental, and your PM takes 10%... that’s 10% of $1,000, or $100... so you are giving up 1/3 of your profits for PM on a leveraged property.If your property is paid off it at least lowers the percentage because the profit level is higher on a free and clear property.., so the same $100 might be out of $700 profit... making the PM’s cut 1/7th of your property, or 14%.Randy 

I know I can do this but my confidence level is really low.

I find a lot of good deals but during my research the crime and poverty level is very high in a lot of areas and that’s what’s stopping me from buying them.

(The Wall Street Journal, in the last 12 months, has had articles, that real estate in Florida, which is a goodly number of feet, above sea-level, is now selling for high prices, & intended to be built on, by the wealthy, as refuge from the rising expected ocean, which surrounds Florida.)

Be ready to jump to a new management company.I am now using two management companies (each managing different properties), essentially to have redundancy in case (when) one of them stops functioning at an acceptable level. I

Any AOS can be found online or with a local attorney. 

Now the secondary question that may indicate a superior skill level is:  is the market bearing the filter? 

If the occupancy level is low, the sellers will think in terms of Cost to build, versus revenue stream/NOI.