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biondablonde t1_j2fgsz9 wrote

As a landlord, I say sell. Doing it long distance is not going to be fun. You can't rely on your family to drop everything when your tenant discovers a roof leak or broken toilet. Hiring a property manager will cost you 10% of rent. Your potential margin may look good on paper, but you will be responsible for upkeep, cosmetic fixes between tenants, new appliances, etc. - if you are realistic about how much those things cost you will quickly see that your profit is unlikely to be worth the headache.

I own a condo with a super who handles all of the headaches for me, and even so, I wouldn't want to do it long distance.

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sirguynate OP t1_j2fhc9c wrote

Thank you for your insights. Figures always look good on paper then reality comes and hits you in the face don’t they?

Your right long distance does have its issues. I used to run operations for a logistics company and had three remote sites across three states I was solely responsible for. Getting stuff done when sprinklers burst, delivery vans caught fire - it’s a headache for sure.

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