They take on the responsibility of tenant communication, emergencies, and paperwork, which can otherwise be overwhelming for individual property owners.The Challenges of DIY Property ManagementWhile many investors choose to manage their own properties, it comes with its set of challenges.

They should only call or knock on your door if there's a true emergency (life, flood, or blood type stuff).

Make sure you have a handyman contact and also research to find emergency service people (plumber for sure). you dont want to have to go searching at 11 pm at night because of an issue.

I will have enough reserves to cover the holding costs as well as some left over as emergency funds for the property.

While always having at least 6 months of expenses for each property in an emergency fund that maybe is invested in mutual funds or something liquid. 

To get that you need to be preparing the suit, getting the bond and filing the necessary pleadings for an emergency hearing during the same window of time that the recipient is thinking about how to hide or spend the money.  

Has anyone identified an emerging market where you can BRRRR while cash flowing on S8 rentals?

You should have someone local who can drive by to check on the property, respond to emergencies, conduct regular inspections, etc.

Do you perform regular preventative maintenance to avoid emergencies or are you more reactive?

Hello and thank you for this reply - yes, I have been analyzing a few properties - I have found that the main issue for both the traditional long term rental and also short term rental in this area is reliable property management - it is traditionally a cottage country tourist area, but it is becoming more popular for long term residency, and there is an emerging missing middle, because of property prices.