As it relates to the PM fee, the calc is assuming you are not self managing.

I understand property management and what the responsibilities are, we already self manage STRs of our own and have a system in place.

After 2 years, refi and pay the investor their initial investment + 10%.6 unit (all 1bd/1ba) Property - 3950 Sq Ft  Price $ 190,000.00 Down Payment(%) 20.00% Down Payment($) $ 38,000.00 Closing Cost $ 9,500.00 5.0% Estimated Rehab $ 5,000.00 Total Invested $ 52,500.00 Principal $ 152,000.00 Int Rate(%) 4.50% Loan Term (Years) 30 Mortgage $770.16 $ 9,241.94 70% Rule $ 278,571.43 Income Rent ($) $ 3,300.00 $ 39,600.00 TOTAL $ 3,300.00 $ 39,600.00 Estimated Expenses Expense Monthly Annual Vacancy (5%) $ 165.00 $ 1,980.00 Prop Manager (10%) Self Manage Self Manage Utilities (100/mo) Tenant Pays Tenant Pays Prop Tax (3%) $ 475.00 $ 5,700.00 Insurance (100/mo) $ 120.00 $ 1,440.00 Repair/Maint/CapEx (15%) $ 400.00 $ 4,800.00 Landscape (60/mo) $ 60.00 $ 720.00 TOTAL $ 1,220.00 $ 14,640.00 Cash Flow Tot.

I then re calculated the numbers for a short term rental and charging $150 a night fee with 50% monthly occupancy and all utilities being paid (est.300/mo), plus the $1,080/mo to the owner,  plus the airbnb website fee of 3%/yr/mo (if I listed it on there), my half of the annual property taxes and insurance to the owner of $3,600/yr, plus $150/mo for cable and no management fees as I will be self managing.

Do you self manage or use a local manager?

i self manage I cant say if that is high or low .

Is the latest mortgage balance just self-claimed and or you submit the latest mortgage statement as well as a back up to the calculation?

Remote RE investing almost mandates use of professional PM that is an expense that local newbies can save as well as self managing provides a learning opportunity.  

If you self-manage, at what level did you feel like you needed additional help?

I’d like to self manage to try and keep more of the profits.