You could manage it as an LTR or an MTR yourself to improve your cash flow.

Wondering how other investors of medium to large portfolio are dealing with this or are there any alternatives to manage increasing cost of maintenance?

It can absolutely be done in California, and although California makes it very difficult to manage properties due to tenant-friendly laws, if you know what you're doing or have a great property manager, California is an excellent place to invest due to high appreciation.

Are you going to self-manage or add the cost of STR Prop.

Why not go get a college degree in construction management for that price….

Or are there related party restrictions on the exclusion tax benefit? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

I am looking at out of state rentals right now, just doing research, and I was wondering if it was possible to manage an out of state rental property by yourself instead of hiring a property manager.

I also feel I could manage it myself.

All money would stay in the company for repairs, management, buying new properties, and paying taxes if necessary.