House hacking will also give you some personal "property management" experience.

Get your hands a little dirty, and a little experience managing a project.

@Eddie Smithyou hire a good property manager and let them take care of it. 

I would never want to manage 27 properties.

Can you recommend any local property management companies that specialize in student housing?

However, the other benefits of owning real estate are: - Taxes (depreciation/potential accelerated depreciation)- Appreciation (this is NOT always guaranteed, but over time, you will have appreciation)- Building equity (in this scenario, as long as rent is paid, you'll build about $140 monthly in equity)Please note some expenses that are missing from this are: - Management fees (8-10% on average, if applicable)- Estimated vacancy costs (2-3%)- Estimated repairs (5%)Disclaimer: I am a real estate investor and own four rental properties. 

Since I still have all my connections and family and friends over there, it’s fairly easy to manage long distance from NY.

This is mainly because of the distance - I will have to find a reliable property management company.

I use this to replenish consumables - toilet paper, trash bags, paper towel, soaps, etc.It's important to also note that I overstock a lot of these consumables so the guest should want for nothing when staying so to me it seems like a fair trade.I have also just started testing out the Management Fee function in Airbnb to spread charges over the nightly rate.

Should I keep it or rent it out unfurnished (w/ management I will cut even or loose like $100 per month cash flow)?