Managing five rentals can eat up a ton of time in any given week, often at times that are inconvenient to you and your personal interests (family, hobbies, travel, etc.).Of course you can manage on your own.

@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)

Initially I didn't have a personal connection to the area and didn't know much about the city.

The person leaving the trailer there is just to store it there.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

No personal income or tax returns are required.

Here are the details:Purchase Price: $300KDown payment if taking mortgage: 10%Available cash on hand: $40KEquity in Primary Residence: $700K - $1MSecond Home will need $10K initial investment to freshen up for personal and STR use.Assume equal rates for each product? 

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.

I purchase my personal investments to maximize their equity and hold long term.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.