Completely outsource. I answer maybe 2-3 emails a month and say "approve."
I kid you not.
I kid you not.
Also, how do you deal with major expenses, like if a furnace needs to be replaced, or roof damage? Do you maintain a rainy day fund for this? What kind of average expenses do you see for your properties over time?
But, now I have good managers in place.
Typically, you can expect 10% of rents for management fee--well worth paying.
You should factor this in when considering a property.
For major expenses, I have some reserves and I figure a 10-20% buffer again off of the rent of the property.
This covers the average expenses over time.