I have seen all sides of this equation, self managing my own properties locally, but moved with the Navy 1000 miles away and managed the same rentals from afar, and had friends here in Memphis that had 18 properties and had them all with PMs with varying levels of success, some bad and some great.Self-managing brings about an additional level of responsibility that most of the time is fine, but that is not what you hire a PM for.

Costs vary but can range from $1,000 – $3,000 per unit.Water/Sewer: This is more complex and may require approval from your local water authority.

I’ll also connect with locals through BiggerPockets or Facebook groups for first-hand insights.If visiting isn’t an option, lean on a reliable local team (agents, property managers) to help vet the area.

local PM and happy to help with connecting you with agents, contractors, lender etc. and running analysis on investment property.

We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.

I would recommend shopping around, especially with a local mortgage broker.

@Jillian Alonge fellow local here in Miami.

Staying ahead of the game by understanding how local regulations align with state bills like SB-9, SB-684, and SB-423 can open doors to exciting development projects.SB-9: Simplifying Lot Splits and Duplex BuildsSB-9 streamlines the process for lot splits and duplex construction, offering a straightforward way to increase property value and expand housing options.SB-684: More Flexibility for Smaller ProjectsFor urban lots under 5 acres, SB-684 makes it easier to pursue smaller housing developments, transforming overlooked properties and vacant lots into productive investments.SB-423: Faster Approvals, Fewer HeadachesNo one likes endless waiting.

I am leaning on local first for my next investment, but not ruling out an out-of-market opportunity. 

For me, it’s been a mix of local friends and paid contractors.