Personally, I prefer to manage all my properties because a) no one cares about them more than me, b) there's no PMs in my town worth a crap anyway, c) my properties are fully renovated and rent so fast that PMs would do virtually no work for their pay anyway, d) I'm a control freak, e) I make more money. 

They are getting to the point where they need around the clock care and need to sell their house  where they lived to help pay for the health care and living expenses .  

So far I have been unlucky with the few prior brokers I worked with.Either they have no clue how to deal with rentals and LLC or they never follow up on requests and I have to chase them down for weeks before getting any  return call.I am looking for a broker who could take care of all my insurance needs for my home, LLCs with rentals, condos, commercial and personal liability, etc...

It does seem like a risk I wouldn't want to take.I'm sure you will, but be careful to use insured and licensed remediators for lead and asbestos, if for no other reason than liability. 

@Corey CazaWelcome, pick a niche, learn to select areas and begin to analyze deals 

Lenders want to know if both have stone countertops, jets bath, hardwood flooring but does not care it is engineering or gleam wood flooring …..

I won't touch your comment about the investment being 100% driven by appreciation, there has been plenty written about that in the past.If you don't care about the expense of a property manager than sure, hire one.

Take care,Nick

I have won deals for my buyers because the listing brokerages know me and that my buyers perform.If an unknown buyer contacts a listing brokerage the listing brokerage wonders who will work with and control the buyer through the process to closing if they select them?

Hey Steven, So be really careful about taking these "rules" you read about too seriously.