If you are not able to hire a property manager, pay them 10% on all rents collected, and make a profit, then I don't recommend holding that property as a rental.
This also overlooks commercial properties, which routinely return at a very decent profit with no management involved and very few issues, because the lessee undertakes to look after the property.
Essentially, if you buy and pray, you generally will get taken to the cleaners by the people with experience. But this is the same as any other industry.
The big benefit of property is the ability to use leverage to multiply returns. Few other asset classes will allow LTV ratios like property. Get the sums right and you can create a profitable asset and accrue significant capital gains, all the while mandated-inflation is eating away at your LTV ratio.
I've never heard of a property manager that charges more than 10%... When you add 1st month's rent plus 10%, the first year is higher than 10%, but that's about it.
