I self manage 7 units on the south side so my perspective…1.

Ideally, I would like to split the total revenue 60-40 in my favor because I would be doing all the self management duties of an STR.  

If I would have started with the boots on the ground 1st I would have saved my self tons of time. 

Also, the benefit for me is that when I'm in Texas working on my self storage items, I could stay there (and my son loves the pool). 

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It isn't for everyone, people who don't know what they are doing can get in trouble and may get taken by an experienced realtor but with the license you are essentially an agent for your self only. 

For vacancy most of my clients average around 3% if you self manage and start marketing the unit 2 months before a tenant leaves.

I want to create an LLC syndicate to purchase a residential property, and want to allow Self-Directed IRA participants looking for alternative investments.

I want to create an LLC syndicate to purchase a residential property, and want to allow Self-Directed IRA participants looking for alternative investments.

The strata seems to be well managed and there is a good sized contingency reserve fund of ~$300k available.2) With the property being vacant I should be able to get market rents for it of around $2700 per month, but I do know that will be low increased over the years.3) I have started looking at other markets, but since this is my first and there would be tons of learnings from self managing my first rental I would like to stick to buying in my town.4) I have factor PM fee in and it would leave me with a smaller cashflow or at the least it would be breakeven.