We transfered ours to our living trust directly - not worried about asset protection honestly because we have insurance and a property manager.

Your $600 should be over $1200 a month if you split up that $500K over (2) properties (Outside of California) you could double up on your NOI.The age old question is out of state management - my reply is if its turn key or renovated it will need very little management other than lawn and once in a blue moon repair.

There are some good property managers over there and contractor rates are cheaper than the western part of the state. 

It will be a new asset with little to no cap ex, and lower expenses.With an apartment, if you buy an existing building, you will cash flow day one, but there are other concerns, such as age, property management, debt, exit strategy.It depends upon your goals with the money, if you're trying to create income, or if you're trying to go into the business full time.Gino

The property manager has told me they're working to fix all the issues.

If you are going to self manage it might be a little better, like 10% instead of 20% off, but better to be conservative if you need cash flow.

I did list it on Zillow for LTR and have received some interest, a lot of it from STR arbitrage companies.

How many units or homes are you managing?

I work for the largest property management company in Central Ohio and can attest to the rental growth over the several years.

New investor here looking to build my network out with property managers in the area.