owner managing rental properties

[Sebastian Roy]

Hello everyone, I am beginning the home buying process for my first home. I'm going to buy a 2-4 unit building and live in it but I am looking for advice as to whether or not I should manage the property myself or use a tenant manager / property management company. I'm assuming I should manage it myself because I will be living there but I'm still unsure. I do work 8+ hours a day mon. - fri. and am not capable of communicating with tenants at work except during my 30 min. lunchbreak. I've read that many people successfully self manage properties and work full time, and I've also read by many that they don't get many phone calls from tenants (depending on the tenant). 

A couple specific questions I have are: is it bad for tenant relations to not be available for 8+ hours a day, and if not how to handle their problems?

Lastly, If you were planning on going on vacation, what would you do to take care of your tenants needs while you are away?

Any advice or past experiences would be appreciated!

Thank you, Sebastian.

[Nicole Heasley Beitenman]

Manage it yourself. You need to know how to manage a rental property if you're in this game for the long haul. Knowing how to be a PM will help you hire the right PM later on. 

BUT you also need to run the numbers as if you were paying a PM to ensure the property will still be a good deal after you move out. I did not do that with my house hack, and I'm paying for that now because I'm stuck managing it until I sell it.