Do I hire a property manager to run the renovation while I am out of state?

[Rita Samaddar]

Hello, This is my first out-of-state deal and I'm a little nervous. Would you recommend hiring a property manager to oversee the rehab? What are the pros and cons? 

Have you had experience with similar projects and hiring a property manager? If not, what other options do I have? Any suggestions are appreciated. 

Thank you for your time.

Regards,
Rita

[Dwayne Ghant]

While out of state, if you want someone to manage scheduling, multiple subcontractors, and inspections, you may need a GC (general contractor) or a PM (project manager) depending on the size of the project.

I wouldn't equate property managers to project managers, or general contractors, per-say.  I can tell you that, that has not been my experience dealing with property managers.  There are many property management companies that can do this very easily but you may need to analyzed the cost and time accordingly.  If it a very large rehab I would just hire a GC.  For medium rehab work I would consider a PM.  It all depends.