@Henry Hsieh not sure what you're referencing with your numbers, but we agree that newer investors should DIY manage their first 1-2 properties to understand the management process.After that, their time is better spent on other aspects of investing, so they should hire a PMC.Don't fall for online reviews! 

Currently buying a duplex that needs a full gut and renovation including windows, roof, floors, hvac, plumbing, drywalling, kitchen, and bathrooms.  

This property required a new roof and some basic renovations.

Roof, windows, doors, furnace, hot water heater, concrete, etc.What research did you do on the neighborhood and probably tenant pool?

The roof needed to be repaired, which added another $10,000 to the cost, but doing that allowed the insurance to be cheaper and ensures that the rood is good for another decade.

I guess an important aspect to this is that I live about 4.5 hours from my vacation rentals (I live in NYC). 

And then what about the roof, isn't that your biggest weakness then and how to you strengthen that up?

We have started including disclaimers to property owners when dealing with water penetration especially on interior walls that can come in from the roof, the siding, windows, doors, etc.Generally if you're not happy with your PM you should trust your gut and try out someone else, but also keep in mind 2023 and 2024 to date have been the most difficult leasing years in the last 10 years nationally and especially in Philadelphia.

I've delved into approximately 10 books covering multifamily investments, syndication structures and operations, capital raising, underwriting, real estate market dynamics, legal aspects, broker relationships, deal sourcing, taxation, property management, sales techniques, lending practices, and construction processes.

There are laws protecting the sober living house from "nimby's" but you might be limited to how many unrelated people can live under one roof.