No major expenses aside from the day-to-day.

Do the major items, 

50k might not be enough for an investment down here, but for a primary, that shouldn't be an issue.

I have seen these terrible scams they are running now that a lot of people have so much equity in there home but after Covid I’d imagine many people have credit issues but these company pretend like they are giving you access to equity in your home but they are actually buying your home and renting it back to you.

The 1099 is issued to you and the IRS to make sure that you are reporting rental income on your tax return.I would use the annual property management statement to report the income and expenses per property.The property management statement will likely include property management fees charged to you and repairs made on your behalf.

I want to make sure my property is getting managed well and everything is taken care of such that I minimize vacancy and other tenant issues that would add additional cost and headache, but I haven't ever heard about PM fees being this high.

A common issue in the smokies log cabins is no caulking at the outside base of the tub/shower and along the bathroom base boards.

Typical issues that will cause friction: rent not being at market rate, how/when to do updates and repairs, late payments/missed payments, and plenty of other potential pitfalls.

I don't think it is a good idea any more than you should also get your insurance broker's license, your title insurance license, your contractors license, roofer's license, and while you're at it HVAC certification, Electrical and Plumbing Master licenses.Some people do both, but I think for the majority of people there is enough to keep up with on either business that if you try to do both you do neither the justice it deserves.   

While the issue on hand was resolved we did stack up a good over 9K in expenses.