I would prefer to self manage to avoid the high poperty management fees (I think its around 10% + 1 month leasing fee, etc.) and I also worry that the property manager will likely not be as dilligent in finding high quality affordable vendors, etc.I see 4 major pieces of work1) Tenant finding: I feel comfortable doing this remotely.

Did you already return their security deposit without checking for outstanding bills on the property?

Defining the class of the neighborhoods is the tough one to start that grade C out for...I have some clients unused to the mid-west who are used to high-end suburbs who consider our better areas a B- area.Personally, I classify the C- anything I verify I have easy access to my spare magazine before I enter a vacant property.

I ask where my money was and he said it was tied up in a third party and may take at least 60-days to get my money returned.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Charging and then returning ($1,000 security for example) will cost around $35 for each reservation. 

I practiced analyzing a deal with my friend the other day and the ROI I got back seemed really high lol.

Houfy is a great cheap option, but I highly recommend creating a branded website to enhance your guest experience and be able to house resources, local favorites, etc. 

Unless you're renting to people who cram dozens of people into every corner and share beds, etc....I would go high class and do (2) 10 x 12's, that's only 240 SF and leaves you 300 SF for living/kitchen....do a Jack n jill bathroom between the bedrooms...

Market Knowledge: These agents typically have in-depth knowledge of the local real estate market, including areas with high investment potential, upcoming developments, or changes in zoning laws that could affect property values.