For me, it's all about the power of economies of scale.

It often makes the situation worse, because it gives the tenant a stronger position of power.

Open lines of credit are a very powerful financial tool, however use with caution.

Distance doesn't matter so much to me as long as I can find a management company and/or cleaner and handy man that can be trusted with the property and quick turnovers.From everything I have read so far, AIRDNA is a helpful tool but somewhat pricy to use.

I agree the right tools make all the difference.

Any great self-managed property needs a high-quality photographer, handyman, cleaning crew, along with other property vendors as necessary (pool care, lawn care, pest control, etc.)What tools can I use to automate tasks?

This is a great forum with very knowledgeable members that will help to guide you in the right directionThe site has quite a few tools that can be helpful for new members.

The beauty is that as the portfolio grows, so does you borrowing power. 

I'd recommend using the networking tools here on BP!

If you're looking for equally invaluable information and enjoy Think and Grow Rich, he goes more in depth in How to Own Your Own Mind, and The Path to Personal Power.