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Updated over 3 years ago,
Travel Nurse looking to get into remote properties. Any tips?
Hey guys, I'm totally new to the forum and to real estate in general, but I'll get right into it. My girlfriend and I are travel healthcare workers and make great money each month. It's truly a life hack, so we're not ready to settle down into a permanent home just yet. So in the meantime, I was thinking I could buy a duplex, triplex, or quadplex using an FHA loan to get our feet wet. I have decent capital, about $60k, so I could easily put down 5-10% on a fairly nice multifamily.
My plan: I would "live" in one unit for a year while traveling and rent out and manage the property remotely via a PM company. Only trouble is, I wouldn't be "living" in it physically (I could just list it as my address and pay the rent myself for legal purposes). However, that would leave me with an empty unit. It feels like I'm missing something and would be making it hard on myself this way.
I'd then use the property exclusively for renting, refinance, rinse, and repeat until I can retire.
Do you guys have any tips or advice to give in regards to financing, property management, or other loopholes I might be missing?
Thanks,
Ben