Welcome! I wish you the best of luck; bring all your youthful energy and temper it with caution as you continue this venture.
I own some rental properties, as well (8 units now). I made money while self-managing the properties, but then moved away. The main advantage I have now, with a management company that (after a few years) seems to have stopped trying to impress me, is a tax write-off. Before someone suggests a 1031 exchange to obtain properties closer by, I'll add that I'm 65 and living in a rural area. I'm no longer in a position (or have the motivation) to manage them myself. So maybe I'm not your typical investor.
Over time, I've been disillusioned by a tenant who refused to pay rent for trivial problems (and then wouldn't let the manager in to see what's wrong and correct it), carried on like this for years, had to be taken to court and have the eviction "settled" for less rent more than once - then leaves the place suddenly, trashed. I've paid tenants to leave (more than a few times) and been to court with others. I've had more than one unit vacant at once, with turnover costs and repairs to pay, and had to add to my rental bank account to cover the mortgage. I had a single family house that had a small fire in January and burned to the ground in March, and I had to be briefly investigated by the insurance company for arson. (Luckily, (1) I didn't burn it down - it was making great money! and (2) it's in a distant state.)
If I hadn't been working full-time at another job I'm sure I could still be making money at this. The tax advantages have been worth tens of thousands over the years. But it's not the Garden of Eden!
