Hey @Coty B LunnI manage my own for local properties but I use a property manager for long distance. 

I am local and could even view in person to get a real time experience if you like. 

One of the most important roles your PM company provides is knowledge on the legal side of leasing at a national, state and local level.

go to local REIA events and just network, see what people are doing and find ways to learn.

They are the only local QI that I’m aware of. 

You may be able to find a local bank that would hold the note if you bought it outright, but anything under $50k and most times under $75k is hard to borrow against...it's just too low for a bank to make any money without triggering usury or State/Federal fee limits like they mentioned.

I hosted attorney panels in local REI clubs, and there never was any consensus.In our great state of Texas, your best option could be a Series LLC: one LLC that has individual compartments for each property.

I built high-end custom modular (e.g. stick built in a factory and shipped) for a significantly cheaper cost per sq foot than it would have cost to build with a local builder.

This involves research, networking and gathering local knowledge.

We will usually comp cleaning fee or give gift cards to local restaurant to comp any legitimate issues.