The strata seems to be well managed and there is a good sized contingency reserve fund of ~$300k available.2) With the property being vacant I should be able to get market rents for it of around $2700 per month, but I do know that will be low increased over the years.3) I have started looking at other markets, but since this is my first and there would be tons of learnings from self managing my first rental I would like to stick to buying in my town.4) I have factor PM fee in and it would leave me with a smaller cashflow or at the least it would be breakeven.

Mobile home parks, however, are equal to self storage as the best investment I ever made.

This self-torture is not recommended.To make it more complicated still, other factors may come into play such as prior suspended losses from this property or other investments or maybe (albeit not very likely) the net investment income tax surcharge.

Although I'm not investing in the 2 markets you mention, we do have several properties that range from the coast of NC to the Mountains of NC to California and we self manage all of them so have experience with long distance STRs. 

I was told to try that first but for some reason I can’t bring my self on how to ask the right questions or to bring up that up in a professional way to those companies. 

I am looking to acquire an out of state MFR and am pondering self-managing remotely or hiring a property manager or occupying one of the units.

hey guys, I have two properties in Indianapolis. both were purchased 2 years ago for around 65K each, and both were bad choices (without being too self-critical...it was in the very beginning) In one of them, I now need to invest 20K to replace the roof, install a fence, and another major CapEx in order to bring it back to the market and find tenants. for the second one, the bid I received was 8K. it's important to mention that these bids have been prepared by my property manager so I believe they are a bit over-price.

I currently own and self manage 16 single family rentals, and while it hasn't been to difficult or time consuming, I intend to continue to grow my portfolio and can see a need to hand of many of the tasks I currently oversee.

Little different than you because I’m self employed.

But I self manage so I save some money there.