For full time management rates can range from 20-30% of gross revenue depending on the level of services provided.

Assuming that this market will rise to the level of "everywhere else" and not inflate in relative lockstep with other markets may turn out not to be an accurate assumption.  

They also appreciate honesty and transparency so they can make decisions fast without any surprises.Some of the top skills that you can focus on are:Comping: Knowing your comps inside out is a must.Negotiation: Being able to connect with sellers and strike a good deal is huge.Networking: Relationships with buyers, agents, and other wholesalers are invaluable.Also, Get to know your local market being able to talk the talk in your area will help a lot.

So, you’re at someone else’s expertise, decision making, experience, analytical skills, information flow, managerial capacity, oversight, etc.  

If you hire a PM, your financial account structure can be simpler.If you plan to continue purchasing rentals, I like some key accounts at the "management" level (income, opex, tax, owncp, reserve) and only have 1 checking account per property to prevent having 100 accounts and unnecessary complexity.

However, this rule is more property- or activity-specific and can be easier to meet than the 750-hour rule, depending on your portfolio size and involvement level.

I’ve been on a journey for about eight years now, moving from a negative net worth to a modest level of wealth, with goals to keep growing indefinitely.

It is standard practice and component level depreciation is encouraged by the IRS.Though it is very important to track you time as you go along.

It could be some sort of skill set for renovations, design for furnished rentals, specific market knowledge, owner occupied loan products for a house hack, etc. 

And none of that counts the 10’s of thousands in tax advantages I reap without any advanced skills or planning, the government just hands them out.