Its a lot of work but anyway you slice it a management company is going to cost you 10% of gross rents which could easily be 100% of your net profits.

A good attorney, RMLO, and servicing company play a big part of this. .

Certainly partnering with companies that have consistent replacement properties available makes sense if the properties meet your investment guidelines.  

Right after I closed on that one the insurance company demanded I make a couple thousand dollars of repairs.

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

You're using a company to manage tenant phone calls/inquiries and then send in vendors for repairs.

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

.- If you decide to have an LLC for each property, creating a Management LLC that all the other LLCs "hire" to run their books, will allow you to only require a bank accont for the Management LLC.2) You may not be able to do a Trust.

As a realtor, investor, and owner of a construction company down the road in College Station, TX.