I have 24 renters. Currently, I do all my management and maintenance. I am starting to log all of my calls, and for the month of October, it has only been a couple of calls. Issues were easily fixed by me, but I could have called someone just as easily. They were non-emergency issues.
There are definitely some
disadvantages of being a long distance landlord. I plan on having a renter who is able to respond to calls, or a person that can be called.
Rent collection is easy. PayPal, lock box services from the bank, auto-pay, etc are all available.
Filling and turning apartments is the main issue, and I can either be around for that, or get it hired out. For the most part, it's easier to turn an apartment if you have better tenants.
Day to day calls are not really an issue, They can be handled remotely, and that is all a property manager does anyway. They take a call, and make a call. They might be on the beach chair beside you, spending the money you are sending them.
While a property manager sounds nice, at 10% its pretty expensive over the years
It's 10% of the gross, but often 30% or more of the profits.