STR can provide more cash (potentially), but its a high risk high reward strategy - if you invest in the furniture, staging, photos, and management or self manage, there is a lot of time and money invested.

So for example your American Express statement closing date is December 10 and your payment due date is January 4.

Good morning,I’ve owned a MF in Euclid, Ohio for a few years but just recently started to self-manage it.

I don't say that to be self-serving, being a lender.

I self-manage, but I understand that's not a practical option for most people.

I know someone recently who had a NY loan and they could not find a servicer to touch it because it was being self serviced - so they had no way of selling it as no investor would take on that risk.The other concern is usury laws.

As a self proclaimed rookie, I recommend starting by conducting your own initial assessment of the property.

I self manage 29 SFR and do all my taxes on turbo tax.

Housing lots/ subdivision, self storage, commercial, parking, rv park,  etc3.  

Perhaps I make 5-10% if forced to sell if I’m lucky, break even at worst.2) I’m VERY glad I chose to invest in my local market (and not OOS), because I know which neighborhoods to buy in, and I also can self manage, which saves a ton of money and I am able to develop local connections, which helps me buy at a discount.