Once I plug in all those numbers, I'm pretty close to breaking even.

Even with a property manager taking a percentage, you’d still see a return, and it might save you a lot of stress managing the property from out of state.

@Vince Scipione  This is very solid advice to keep it separate and I agree with you, the only reason I was even thinking of it was to help me raise the initial funds for my first investment.

This would be an easy decision however I do not think you can come close even with you being active in the process.  

Cons:revenue basically breaks even.

In fact, even with my extensive experience, I choose to have all my properties professionally managed.Here's why:Tenant Selection Is CriticalThe most valuable service a property manager provides is selecting reliable tenants.

Most mortgages aren't "assumable" (able to be transferred) and even if it is the new borrower would need to qualify the same as the original borrower.

And guess what, if your using a proxy thinking that will protect from disclosure as an agent, nope, it doesn't, you have to disclose it even then. 

@Robert Gorra - I've had a similar experience where I've had a really hard time with getting GC's to even give me an estimate, and the few that have have been way overpriced (ie, they want me to put in $20k of cabinets in a budget flip) or have had their prices go up by about 40% and still not give me a firm price when I try to nail down the scope of work.

We don't even a Board yet (it's a new build), and it's all being coordinated by the HOA management company for the building.The developer offered to make the new door key fobbed on each side for entry, and would install a new security camera.