Someone tries to self manage, thing go awry and then they ask BP what to do.

What are your short term 1 year medium 3-5 years and long range objectives 5+ years and how does holding vs selling into these plans?

Have an interesting situation on my hands and I think I know which direction to take, but I'd love the opinions and thoughts of the community to help guide my novice self!

Have an interesting situation on my hands and I think I know which direction to take, but I'd love the opinions and thoughts of the community to help guide my novice self!

My objective is to reinvest to a more expensive property in Texas utilizing a 1031 exchange.

Do your self and your clients a favor.

Again, this is just me...I recommend sitting down and assessing the risk and return you're looking for and go from there.  

I’m currently in the same boat🚣♀️, having been self-employed for most of my adult life.

I ran the deal with 7.5% down on the BP calc.FINANCIALSDown Payment: 21,750CC & Inspections: 5000Cash Needed: 26,750Monthly ExpensesP&I: 1453/moT:  208/moI: 115/moPMI: 175/moPM: 232 (I will attempt to self-manage for as long as possible)Vacancy @ 5%: 116/mo= $2299 monthly payment with PM, $2067 without PM in place.I figure cap-ex and maintenance will happen, and we don't know when.. as something could happen day 4 of owning the property.

Sometimes 1brs are in high demand so that is what I would prefer.If I were you, I would talk to several property management companies in the area (even if you plan to self-manage) and ask them which property they would prefer to manage.