What are different ways to safeguard new out of state rental property ?

[Nitin Gove]

Hello Everyone,  What are some of the things that you do to protect your out of state rental property in initial days after purchase ? Would love to learn from y'll. 

[Nitin Gove]

Quote from @Andrew Syrios:

Quote from @Nitin Gove:

Hello Everyone,  What are some of the things that you do to protect your out of state rental property in initial days after purchase ? Would love to learn from y'll. 

1) Do thorough due diligence on the property (visit if you're out of state), walk unit, get inspections, evaluate neighborhood, ask around about area, etc.

2) Do thorough due diligence on the property management company you're using too (call for references)

3) Buy through a title company and get title insurance

4) Put property in an LLC

5) Get insurance, preferably replacement value and not ACV

6) If it's vacant, put a security system in it (Simpli Safe is a great and cheap option for this). You can also consider a ring camera

5) Make sure to 

 Thank you for sharing these tips Andrew !!