I run IronGate Property Group from over 1,000 miles away in FL. I never set foot in Mississippi. No property visits. No drive-bys. No standing on site with inspectors.
The entire operation runs through two people on the ground: one realtor and one contractor. That is the full local footprint. Everything else is laptop work from home between 8AM and 6PM, with family time mixed in.
The realtor handles only the human side of tenant placement. When a voucher holder is approved, the realtor shows the unit, does the lease walkthrough, hands over keys, and handles any housing authority coordination that requires a body present at move-in. That is the entire realtor scope.
The contractor owns every other boots-on-the-ground task. Make-ready, repairs, cleanouts, materials runs, punch lists, and escorting any required third-party work. He also runs a cleaning business, so turns stay inside the same relationship. No third cleaner. No separate handyman. One call, one person.
My side stays numbers, screening, paperwork, HAP follow-up, insurance, and vendor direction. HAP is the Housing Assistance Payment - the portion the housing authority pays directly to the landlord each month. I track it, chase it, and confirm it lands. Rent reasonableness checks and payment standard reviews happen on my screen before any offer or lease goes out.
Here is the daily operating loop that keeps this from falling apart.
When a repair or turn is needed, I send the contractor a clear scope with photos from the previous turn or tenant report. He prices it, buys materials if required, executes, and sends before-and-after photos plus a short note. I approve payment. No site visit required.
For a new placement, I screen the voucher holder by phone and paperwork first. Once approved, I send the realtor the unit details and the approved applicant. Realtor handles the showing and move-in. I issue the lease documents and follow the HAP contract process from Florida.
Cash stays tight because every dollar of rehab or cleaning is scoped against the actual remaining budget for that door. Target is under $10k total cash out of pocket per acquisition when possible. The contractor knows the number and works inside it.
This model only works if both local people are reliable and you treat the relationship like a partnership, not a vendor list. You pay on time. You give clear instructions. You do not add bodies just in case.
The second you start thinking you need a property manager, a resident manager, or a bigger local team, you have already decided the portfolio cannot scale on thin cash. Self-management with two people is the constraint that forces discipline.
I am still early, about 60 units with the goal being 139 doors and $1M in revenue. That only happens if the system stays lean and every process can be run from a laptop in Florida.
Actionable Takeaway
Open a blank note right now and write the exact two contacts you would use in your target market if you had to start tomorrow: one realtor who will handle move-ins and one contractor who can also clean. List their phone numbers and the specific tasks each owns. That list is your operating model.