Property Management: Are you planning to self-manage or hire a property manager?

I'm looking at Class B properties in up-and-coming neighborhoods and plan to self-manage once I relocate.  

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

We self-financed this deal.

I borrowed $110K from a private lender for the purchase and self funded the repair of the offices. 3 months later, I rented 6,000 sq.ft. of office space to a corporation for $21,000/month + utilities for 5 years with another 5 year option.

Just move on and sell the place, get a new PM, or disavow PMs and self-manageor2.

From what I’ve read in Bloomberg, electing S-Corp taxation for your LLC might reduce your self-employment tax burden when you start paying yourself a salary.

It’s my brother and 2 good friends that have some experience. the money lender would be a family member of mine lending out of their self directed IRA so they will be lenient with us.

@John Kim @Travis Biziorek is 100% correct.S8 really isn't difficult, but it's not the answer to everything that the self-proclaimed "gurus" make it out to be.With S8 tenants, you're just trading one set of challenges versus direct paying tenants.When we advertise a rental, we take the best tenant we can find, immaterial of their source of rental funds.You want to be careful investing in the City of Detroit because there are a lot of "crooks" trying to sell you Class D properties dressed up to look like Class C or B.Connect with us or Travis for more info!

I’m not confident this approach fits the best with how my life is panning out though but I’m open to learning more.