The Property Manager usually does light cleaning and repairs between tenants.Recommendations or another way to think about this? 

As you suggest lowering down payment to buy more properties is one way, although the downside is greater risk in event of down cycle and more time to manage required.  

Is it Leasing, Property Management, Vendor Management, Operations, Finance, Accounting... 

A scenario like that would likely result in getting your entire investment back upon refi and also a nice cash-flowing rental to manage.   

Drunk guests would make me nervous.I also manage short term rentals, but don't do weddings.

Taking small, manageable steps now will help you make informed decisions when you're ready to invest.Good luck!

I currently self-manage three properties in the Atlanta metro area and have learned a ton through trial and error over the years.

.- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

I recommend that they use a property manager.

Based off of the podcasts I am listening to and other property management professionals that I network with, that has been the experience of portfolios across the states.