It can work if you're local and already have a good circle of handymen, contractors that will be available with short notice and feel confident with tenant selection and all that goes with tenants. 

@Gerard LewisEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

In this case, there are two lovely families and I feel bad one will not get selected. 

Just browse the forum, select some that you like and contact them privately.As far as cost segregation, read this post https://www.biggerpockets.com/...

Plus, the higher cash flow should afford a little wiggle room for a little extra wear and tear.What are things to look for when selecting a location for student housing?

@Kevin PetersonIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Choice Crosby IIIEven if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

@Greg Schreffler I never allow lenders pull my credit until I select the one I’m going with.

If you are, then read on:Even if someone give you a referral, what meets their expectations, may not meet yours.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

There is so much data to analyze when it comes to selecting a new market, but places with high growth, good landlord-tenant laws, lower taxes, and purchase price are all things to weigh and consider.