A nice but expensive duplex on a beach or in an expensive area might be ideal, if you can swing the other half out of personal funds. 

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

Call it the organization's personality.

Private Money is simply money from a non-institutional source...such as someone lending out of their personal IRA or from their savings. 

I've personally invested and work with investors - it's critical to get your numbers right on the front end.

Personally I would just get the proper licensing and insurance if I wanted to manage properties for others. 

I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again.

I have no personal experience with them but they are the only company I know of that are built more for self managers and small portfolios. 

The person in the response above who got crushed by a $5000 repair never did have $100-200/mo. cashflow.

I think they meet in person, but not sure it may be on zoom - they are not members of MAREI, so I don't have all the info - they do post their meeting on Meetup.And there are a lot of virtual meetings, plus MAREI events on our calendar.