While you are not required to have a property manager for your long-term rental (short term is a different story), you can only handle administrative functions such as making phone calls, paying bills, selecting a contractor, etc. and must be completely hands off. 

I can’t speak much about other markets, but as someone who started off in Columbus, and grew up in Cleveland.

It's great to see interest rates "level off" at something workable for hopefully all parties...the volatility over the last several years has been tricky to navigate...Chicago hasn't had as many market fluctuations which has been nice.

First off, trusting contractors from afar is hard.

I started off with a duplex in 2020 and now have a solid portfolio of rentals with my partner.

Plenty of PM try to keep them off market now and double end the commission. 

Even with annual maintenance inspections, I have scrubbed so much nicotene off walls. 

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

Maybe the "classification" isn't the important piece - but can I write off expenses if I occupy a property more than 14 days?

Pay off debt, build your credit, and increase your savings rate. 2.