I'm planning to turn it into a rental and was wondering if I should consider hiring a property manager for my first rental.

STR rental was $3,500 to $6,000 per month, depending on season.

These are our first two rental property purchases.

How have you made that decision for your prior primary residence to rental properties?

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

@Jaren Taylor, not sure if this is why you talk about raising all cash, but given most deals are trading in the 5% cap rate range, and agency debt is 6.5% while balance sheet debt is closer to 7%, I whole heartedly agree that all cash is the ideal capital structure for many properties today, if your goal is to maximize overall returns for your investors.  

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

When you own a rental, you can depreciate the property over 27.5 years.

I own a rental property in NC.

@Tannia CastroWelcome to the exciting world of rental property investing, Tannia!