Managing Out of State Rental Unit on Your Own

[Sid Verma]

I am a new investor. I own rental units in Columbus Ohio and want to take over the management of these units myself. I currently have a property manager but we wanted tighter control on the finances as the units are not making any profits. I was planning to use the Innago app to help with messaging portals, payments and general management. How do you proceed with the logistics of managing your own units remotely? For example, who handles the keys locally, and are there services that can help me find tenants and organize showings?

[Corby Goade]

I hate to be a bummer, but this is how most people lose their shorts on real estate investing. If you think your numbers are tight now, wait until you get a tenant who moves in their entire extended family and starts a meth manufacturing business in your basement. When you try to evict them, it takes two years and then the contractor you found in Craigslist takes a $10K deposit for the repairs and immediatey blocks you. 

I'm being a bit sarcastic, but there's some truth there. If you scroll through these forums, the majority of people who are struggling are remote, self managers. 

If you don't like your PM, I'd shop around for a new one. Something to keep in mind, if you find a PM that you like, trust them and give them the leeway to do their thing.