Managing your own properties is fine but in TX if you open it up to others you need to operate under a broker’s license.  

Most turnkey operators seem to recommend min $100k purchase price and $800/mo. rent to avoid taking on properties with deferred maintenance filled with tenants that are more trouble than they’re worth.

I'm interested in fixer-uppers, C-class assets in a B-class area because I'd like to operate using the BRRRR strategy.

$1000 / month for coin operated laundry?

There are large brokerages that operate multi state.

@Manna Sivia you also need to consider your operation expenses such as technician headcounts.

Lower operating costs are definitely a consideration I take into account when I’m looking at property, and I think most would agree that a house with $0 electricity bill is preferable to one with a bill. 

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE- check out this article to learn more.The fourth pillar is somewhat similar - you want to separate your operations from your assets.

Chances of it happening might be lower, but piece of mind in your operations can be a fine line between success and failure.Don't forget you'll have closing costs, marketing costs, repairs, etc., off the bat.

Have not yet operated though sorry.