I am new to BiggerPockets just looking for some insight and looking to see if anyone has bought rentals during college and what the best way ti manage them would be. As a full time student living away from where my hopefully future investment property will be, it doesn’t seem like it would be all that easy to manage it. In this case would it be best to hire a property manager and if so what are the rates usually like for this? Any feedback helps!
Nice to meet you, congrats on diving into real estate. If your investing out of state and don't have a core team put together in the state you are investing, I definitely recommend using a property manager.
For a single family home, typical rates are below
8-10% monthly management fee
85-100% leasing fee (percentage of first month's rent)
flate fee or up to 6.5% renewal fee
Let me know if you have any questions, happy to help