I would be inclined to say if you are already living there at the property it would be dumb to pay a property manager ( they aren’t cheap) but the flip side is it if your new to this it would give you a model to go by and free up a lot of stress and time for you to focus on other ventures .

Over the long run this will provide the greatest average returns as well as the least amount of stress. 

We should preface it to say the home is near two small colleges, Google campus and near the shopping center (includes T-Joe). 

Research it yourself.https://www.torhoermanlaw.com/...https://truthout.org/articles/...http://stlouispatina.com/the-t...https://www.stltoday.com/busin...Best of luck.

Get a good PM that manages other buildings in the area.Beyond the standard T-12, rent roll, copy of leases, I'd want the following info from the owner.

These tenants are probably causing you some stress.

It's harder to figure out the covariance for closely-held assets like what is used in Modern Portfolio Theory:https://www.investopedia.com/terms/m/modernportfoliotheory.aspA bigger issue than the ones listed is general T-I-M-E. 

I thought/hoped that was the case but I am really OCD about dotting i's and crossing t's when it comes to this and wanted to check before contacting the seller. 

@Max T. 

When a door is hard to close, it puts stress on the screws/hinges.