The annual 2% management fee comes out before you get your principal back.  

They agreed to pay in accordance to the lease and failure to manage to the lease is the #1 reason why landlords fail (Source: American Apartment Owners Assn).Cowboy up and stop having the tenant control your ROI.Best.

Even better if you can work for a property manager or real estate compnay. 

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

I’d love to hear your insights or experiences managing properties with similar setups in Pittsburgh.

I would like to speak with local investors, real estate agents, property managers, lenders, etc. from the area.

I'm a broker and property manager here in Sacramento, I manage about 100 investment properties, multifamily LTR and STR. 

The same is true with property management.