Just to throw some numbers out there,  If it costs about 45K to rehab and rental income should be about $24000 a year.

Unlike tenants on a year long lease you will be managing quite a bit of turnover on a vacation rental.

As it was mentioned before, I would reach out to local investors, folks who have property management companies, and find out the market rents, vacanies, and demand for the type of homes you are purchasing.

The disadvantages in my opinion are the meeting and greeting and cleaning up after people. there is more management involved and what would happen to your profits if you hired the duty out? 

I have not managed rentals in quite a few years, and I do not own any RE at this time.

Maxing out the ltv will cost you money.Hope that helpsStephanie

Hello,Under contract for a duplex that I will be self managing.

I’ve received some very favorable estimates in cost and timeline for the plans I had created. 

Condo's typically are cheaper entries but have additional HOA costs which usually eat profits. 

I have been self-managing my other property for the past decade, with the caveat of it being 30 miles from where I live.Now, I plan to do so with this property, albeit from a distance of 200 odd miles.