Also important is being able to find a reliable property manager in the area.I'd love to hear from local investors – am I looking at the right areas?

Additional expenses include property management at $142/month, property tax at $1700/year, and other costs like insurance and maintenance.

We manage over 100 properties -- mostly STR (Airbnb) -- For STR, invest in Sacramento city.

House hacking will also give you some personal "property management" experience.

So my question is, if I don't live in the county where the property is located but want to manage it myself, do I need to hire a registered agent just to get documents?

Since this is not an actively managed property, you're unable to take the deduction against your W2 (or other) income in the current year.

I'm a local Realtor in the Raleigh area and specialize in Investment Properties and Property Management.

I am interested in using WY Statutory Trusts and LLCs to box up each individual property, and then using a separate LLC for the management.

Or is it manageable by the owner and not worth it.

It's certainly an easy thing to do, super low barrier of entry but also VERY HIGH RISKS if you don't use the right contracts, and I can imagine some folks sending $ before getting their contracts signed and forget OR trust someone else and boom....LOSE all of their $, and rightfully so to the seller.I know new folks or those who lend on EMD would disagree, but I personally wouldn't want to deal with the headaches on these very small amounts of $ and the wholesalers that need it.