Hello Evan, I have helped a number of Bigger Pockets investors build their portfolios in Syracuse and surrounding areas.

Far more than most real estate acitivies and much quicker think about it.. you sell the same info over and over and get paid instantly you have no roofs to fix no tenants to manage etc etc.. you do have reputation management of course.

I manage a small rental portfolio that I am slowly adding to, and also have a few flips going at all times. 

I manage my own portfolio and have worked as a PM for a very successful individual but have never considered managing other peoples properties.

Self managing should be easy, if not then that Realtor can probably help you with the rental side of it. 

I would try not to tie up any of the principal in down payments.Personally, I had a family member do this same thing, but they used an investment portfolio as the collateral instead of real estate.If you play your cards right, this might be the only short-term money you ever need.Please let us know what you end up doing.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Before moving out, test different strategies, automate management (smart locks, cameras, cleaning services), and decide whether to self-manage or hire a property manager.

That means learning how to vet a manager.

Managing a rental property can be challenging, especially if it’s your first experience.