Property management advise

[Tony Velez]

Im looking to buy a single family home as my first investment property. I'm new to this. If I decide to hire a PM...,what exactly am I paying for? What do they actually do?

[Adam Bartomeo]

They handle everything that deals with the tenant. If you find a good one (it is difficult) they will find them, qualify them, enforce rules, evict them and converse with them. They will charge you extra for anything else. New water heater, AC, or light bulb they usually have their own employee fix it and charge you a heavy fee. If you find a good one they are worth their weight. 

I would suggest managing your own for the first few. It's not very difficult and you will get a hands on experience that will allow you to better qualify a good property manager.