The way that I have done this in Costa Rica has been to bring in several partners on a high end luxury property who would like to own a part of a property that they can use and enjoy but that they don’t have to manage by themselves.Each of the properties that I own are at a million or higher or will be soon. 

I'm managing D class properties with a property manager and am making a profit. 

My focus is shifting from cash flow to equity management as well as our portfolio mix.

Hey Gabriella, as a property manager and aspiring agent you should have no problem finding a mentor.

For FT property management, the rule of thumb is between 80 and 120 units (if they are doing everything).

Quote from @Bruce Woodruff: Well, no one else has mentioned it, so I will......what about the current LA fires and the ongoing mis-managment of the forest and brush?

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

@Isla Arshad,  you've described the experience of many landlords who manage their own properties.

The numbers often look the best in some of the worst areas to manage and on properties that have the most deferred maintenance.

I am based in NOLA and have a great property manager.