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Newer investor here. My PM is managing 1 SFH for me. This is after I ran it as an AirBnB for nearly a year, doing everything myself (management, cleaning, maintenance, etc).
Perhaps the root of your question - I could self-manage, and becomes more valuable to as I scale my portfolio, but for now it's nice to know mostly everything should be taken care of minus the finances.
I’m curious to see if investors with 5 plus properties have a PM. Less than 5 I feel like it’s super easy to manage even with a full time day job.
I have 2 STRs and manage no problem without a PM as I have a reliable cleaner and handyman. However I would agree that 4+ would become challenging if you have a day job.
I have 2 STR overseas, so use a PM who lives there who handles most things, and a handy man who lives there. Since it’s overseas, I would be able ti manage the properties on my own. Would only be feasible if my properties were in the same city as me.