Best property management processes for managing remotely
I am planning to start buying apartment complexes out of state and am interested in learning best practices in how to optimize financial performance out of state? Even if you don't have a refined process to share but do have isolated tasks that help please share. All my buildings to date are local and I credit the performance in part to being involved in oversight and keeping my contractor partners accountable and responsive. I'm concerned if I pond all oversight off to a property management company things might fall apart quickly without oversight (unless I get lucky and find a great one), and yet I also don't feel good about managing the day to day remotely and struggling to keep up with oversight. Is there some sort of hybrid management style that any of you have finetuned to make remote management successful for multi unit properties? I'm also not a techy guy but is there specific software you felt was necessary? I'm thinking about having the rents sent to me so I can have some degree of involvement but I'm struggling to find the best way to structure this where I don't have to do too much and yet still stay involved so I can see problems when they arise. If you're aware of any helpful webinars on this topic I would also be very interested in them. Thanks in advance for any input you might have on this topic.