If there is a choice to be made, it comes down to what an investor "likes" or prefers about one over the other? 

I’ve heard arguments for both, but I’m curious—what’s your preference, and why?

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Removing all skills from the equation, if you don't take a break from participating as a real estate investor in some way each day, you will stay far ahead of everyone else who keeps subbing themselves out and then asking to get back in when the game is already out of reach.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

So I require skin in the game (average is 5% to 15%) to offset this.

lots can go into this somewhat simple question and most of it is personal preference.- you'll want to define "best", and what that looks like for you as a success.- How much money do you have to spend?

It will depend on your preferences and how well you think you will tolerate having a room mate as you approach a new life with your partner.

We would have preferred to work with them within reason to make it a quicker and easier process.

There is a new bill being proposed hopefully eliminating Pmi if that gets passed that would be a game changer .