And don’t forget about all the normal wear and tear maintenance issues.

As an investor in syndications and a fund manager, I can see both sides of some of these issues.

Moreover, three-quarters of all audits are correspondence audits in which the IRS sends the taxpayer a letter in the mail asking about one or two issues.

So far, he hasn't encountered any issues with neighbors or the County.

Plus, @Chris Seveney mentioned that a lender might take issue with the transfer, which is usually their right (see the bajillion posts on "due on sale" on here).

Hi @Rehaan KhanWe just purchased a primary residence as first time home buyers in Dayton and one thing I would be wary of is foundation issues.

The biggest issue is often understanding rent, it is often underestimated.

Self-managing properties also means you'll want a market that's not too demanding in terms of tenant turnover or maintenance issues.

At least then they don't drive you crazy with nonsense issues, probably of their making. 

For example, I've seen where a hobbyist investor/developer works on project, they hire an engineer and/or architect, but they ended up missing something vital, i.e. drainage issues, environmental, fire dept review, planning the wrong type of product for that market (buyer & renter demographic), etc.