If you are not a Delaware resident and you do not have a physical address to use in the state of Delaware, you cannot act as your own registered agent.
That said, if you are a Delaware resident and wish to use your Delaware address, you are legally allowed to act as your own registered agent if you are forming a Delaware entity.
Need to take a step back? Check out our full post - What is a Registered Agent?
However, there are several reasons why many Delaware residents with Delaware entities choose not to act as their own registered agent.
You'll have to notify the state of Delaware if you move. Changing the address of your registered agent (in this case, you) requires you to file an amendment with the Secretary of State. You may find the required forms and instructions for filing an amendment from the Delaware Division of Corporations here.
There is a fee associated with filing an amendment and the process may be time consuming if you are unfamiliar with what is required.
Your address will be public. Unless you have a brick and mortar location, you'll probably use your home address. The Delaware Division of Corporations maintains an online accessible database of all Delaware entities and the address of their registered agent. You may search Delaware entities by name or file number here.
As you can see when you conduct a search, the name and location of the Delaware registered agent appears. If this is your home address, you'll have to be comfortable with making that information public.
You are required to be available to accept service of process during regular business hours. Registered agents are required to maintain regular business hours. If you plan on working non-traditional hours or your entity is your side gig, being your own registered agent may not be for you.
You could miss important notices from the Secretary of State. Your Delaware registered agent is required to do two things: