My properties are primarily in Arvada, CO, but I have a pulse on the market of regulatory environments throughout the state since I am almost entirely niched to STR investors in my business.

While it’s a bigger initial expense, it aligns well with your long-term retirement strategy and could provide peace of mind for years to come.

The larger unit will have higher maintenance/cap ex even with coastal environments being harsh on some items.I suspect your expense estimates are far too low especially if you kept the BP calculator default percentages.  

It could give you peace of mind as you focus on your family and move to your new home, without the additional stress of managing a second property from afar.Best of luck with your decision! 

However, I believe it has deflated a bit recently due to the current interest rate environment, increased inventory of nearby new homes at a low(ish) price point, and the neighborhood turning to mostly investor owned homes.I do have mortgages; the tenants are paying these down. 

Marketing and Advertising: A property manager has the resources and knowledge to effectively market and advertise rental properties, attracting prospective tenants and reducing vacancy periods.In summary, hiring a property manager can streamline operations, enhance profitability, and provide peace of mind for you, allowing you to enjoy your investments rather than being bogged down by day-to-day management tasks.A property manager will give you more time to expand your investment portfolio. 

@Andy Mirza I agree that there will be vast opportunities for distressed debt in the post-Covid environment, but we won't see those assets probably for another 9 months or more.

Sponsor is realistic about current market conditions, and is humbling themselves on current portfolio, while also realistically appraising current environment as a potentially better buying opportunity than the peak 3 years ago. - Sponsor learns from mistakes.

In the current environment, my under writing (that most would consider to conservative) depicts large negative cash flow after a maximum LTV refinance.- cash out refi loans have higher rate than if cash out was not occurring.  

Next in this environment you may be challenged to get $10k rent on $1.3m property.