Sellers over price the property in their mind and belief, so it requires some negotiations once they are located.There are plenty of properties that have not been on the MLS to buy, but the techniques we use to buy them means we have equity at purchase and we don't need to use banks to do so.It does require capital, and an understanding of what makes for a safe investment.

I manage my own properties. 

In an era marked by rapid changes in the commercial real estate (CRE) market, investors and property managers are increasingly seeking ways to future-proof their investments.

You could choose the absolute best market in America with the best upside, best deals, best location but if you have weak team members such as a broker, contractor, lender, and property manager your investment will surely experience hardships.

Hi BP Community! Please let me know if you have any questions about the South Florida market or questions about lead generation.

You should include PM costs even if planning on self managing because it is work and you deserve to be compensated for this work.  

What additional costs should I expect when purchasing and managing a multi-family property?

House hacking is a great start, but it is important to keep in mind potential downsides like privacy issues and the stress of managing tenants.

i.e. resume, references, etc.I have a few contacts who are currently self-managing STRs.

The company I work for manages Two Barns as well as Alexana.