Stay cool and don't jump into a bad investment!

In my opinion the biggest thing you're paying for with a property manager is the experience, staying up to date on legal complaince, and having stuff in place already.If you decide to start self managing you're going to have to spend time up front to figure some stuff out (exactly how much I don't know) and periodically spend some time doing various stuff.The truth is, if you have a property where you have a great tenant, they pay on time, they never cause problems and stuff rarely breaks, management is very easy.

Mortgage stays in seller's name but is paid by the buyer through a promissory note (aka contract)Mortgage Balance: $102,000 Interest Rate: 4% PITI: $531/monthSELLER FINANCE PORTION: Seller Finance: $300/month to seller for 53 months (4.4 years) = $16,000 Total House Payment: $831/month (PITI + Seller Finance)NOTE about CLOSING and seller: Seller would like to remain in the house until November 12th, 2024.

There are some areas to stay away from and areas that are great.

Assuming you want long term renters, then staying around $400k or less is where you need to be anyways.

How you do the accounting matters.You have also allowed the residents to stay despite SEVERAL lease violations. 

When the property isn’t in use, my family and I will stay during those times.

To avoid appraisal issues with VA construction loans, work with a VA-approved builder, keep plans detailed, and stay in touch with your lender and appraiser.

The percent distribution of 1/2/3/4 guest stays are almost identical between the 2 years. 2 guest stays make up 2/3s of my stays, with 3 and 4 guest stays being in the single digit percent. 

Separately, there are tons of older extended stay hotels in all the major growth cities with people living in them paying (fairly high) monthly rates due to convenience or lack of qualification for typical rentals.