The right area to invest in for you totally depends on your buying criteria.

But obviously the main downside is giving up equity that would benefit your future wealth.

That is 4 months' of ALL of your rent to place a new tenant (not to mention the time the unit probably sat empty while they were filling it).So in a year where you had turnover, your PM expenses would be $1,200 + 12x$120/month, for a total of $2,640 in PM expenses for the year.  

I totally get wanting your time back with the family—it's a huge motivator for many of us.

Total waste of time....they will also put the property out to bid to make sure they’re getting market value and they will make you jump through many hoops.

He quoted a 20% fee for managing each successful booking and suggested we improve the staging of the house, which he would oversee for an additional 10% of the total staging costs.

Obviously there is a part of me that thinks this might be the case.

I have a property listed for 375, 000 Has a business using 7,000 sf of the first floor it has 3 total floors with a total of 21,000 sf I may have the deal worked to buy the business which will pay the building 2000 a month in rent .

This would obviously be contingent on a thorough inspection.Asking price: 1075000Annual Rent: 139kVacancy reported: 5%Insurance: 5900Maintenance: 10kTaxes: 4kUtilities: 15,600_____________________________Total Expense: 35500working on financing this week but I understand I'd be at around 6.5%My biggest concern is DOM and major repairs needed. 

I think you're spot on in there not being an obvious decision.