Biggest difference is going to be the tradeoffs (which has pros and cons) of lower rates and fees but much more hassle, paperwork, time suck and potential for deals not working with strict requirements (conventional) vs. hard money (higher rates and fees, but much quicker, much less documentation and time and hassle, and a much lower likelihood of deal dying - hard money lenders can be much more flexible)

We are looking into self managing it but there is a big hurdle in that the HOA doesn't allow lockboxes or smart locks on the doors.

This is the biggest reno project I have done to date.

My biggest piece of advice would be to really dial in on what your strengths are and what you can bring to the table when getting into the game...

The biggest things I took away were 60 day notice (2 full months) to modify rent or terminate and leases that offer the most LL protections are 6 months or 12 months because you can terminate without cause (if occupied less than 12 months) with 2 full months notice.   

You will need debt to grow a real estate portfolio and using debt wisely will help you create more passive income.I know its a hurdle and a big mind shift at times, I experienced it my self when I was getting started. 

We just have all the main vendors on speed dial… The biggest being AC repair, Plumber, septic, and occasionally and electrician and roofer.  95% of daily issues are handled with one phone call.  

That’s the biggest step.

But the biggest problem with comps is the time period.

The vacancy is my biggest worry personally, but both my mom and wife assure me that there is a significant need for it.