Long distance investment

[Rich Thomas]

hello all, 

I'm somewhat of a newbie in the field. I have owned and run a 2 family home for 6 years. I am currently in the process of selling the 2 family in the hopes of upgrading to something larger with a 1031 like exchange, possibly commercial property with 6+ units. I'm finding it very hard and sort of frustrating trying to find a solid investment property in my area (Salem, ma). Although the area has very strong rental income, the properties are hard to come by. 

I would like to get some feedback and thoughts on looking statewide or even in the New England area for a property? I realize that if it were far enough I would have to hire a management company etc. there seems to be so many more options for much less in a 2-3 hour driving range. 

Thanks for your help

Rich

[Andrew Davis]

@Account Closed's point, vacation rentals are management intensive BUT when done properly can yield some pretty fantastic income.

The annual rental market in Orlando is extremely strong at the moment, we posted the second highest increase in rents in the country in 2015.  It's actually cheaper to own in many parts of Central Florida than it is to rent.

http://www.wesh.com/news/orlando-rent-increase-amo...

Feel free to reach out if you need some boots on the ground down here.