Quote from @Fred Robertson: I do private lending in a self directed IRA with Equity Trust Company as my custodian.

My basic underwriting making some standard assumptions on HOA expenses, 20% down, 7% interest rate, 30 year mortgage, utilities, supplies, and maintenance costs shows a loss of about $22k per year if you are self managing.

Investment Info:Large multi-family (5+ units) buy & hold investment in Bryan.

I do see lots of self storage and warehouses going up, so my default assumption would be that the old shopping malls do NOT trade for less than build cost, but it's possible that the marketplace is not perfectly efficient. 

I house hacked this 4-unit property start year of 2022, moved out in a triplex in 2023.

10) Knowing what to do if tenant is late on rent or doesn't pay.There's a lot more, but many here on BP self-manage and learn via "trial by fire".Of course, you can always hire a Property Management Company to handle it for you.

I am thinking a 10-15 unit building.

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

There are 39 states where no license is required to do business purpose, DSCR, P&L, SBA, commercial, self storage, etc type of loan products.

We live in San Diego so would be long-distance, TBD if we self-manage or enlist a PM.