@Michael Baum how many Short-term rentals do you manage this way where you are on call all the time?

Do you think purchasing a property in Philadelphia, PA, and managing it remotely from Westchester, NY (Roughly 2-2.5 hours away) with the help of a local handyman would be too much of a stretch?

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

As we continue to stabilize supply chains, seasonal and historical patterns can provide insights for executing your next project, ensuring you factor in risk and stay within budget.Question: What are your thoughts on adjusting to the "new normal", how will investors manage increasing costs with many forecasting stagnant appreciation for the coming years?

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

If the negative cash flow is manageable and the appreciation potential is strong, it could be a smart move.On the other hand, investing out of state allows you to enter more affordable markets with strong, steady returns, helping you to build a diverse portfolio over time.

I have managed to get myself into a bit of a complex situation on my first deal and I'm looking for some advice. 

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Don't change jobs or income yet.Once you do and you think you can manage the payments based on your new income, maybe once you get the rooms rented.Then if you want to switch there are plenty of opportunities. 

And manage for the investors on the back end.