How far do you live from your investment properties?

[Elyse N.]

Hello! First time hopeful investor here. I live in a fairly expensive area and am looking to purchase a 6 unit building. The buildings within 30 minutes of my home go for $600,000 or more. Buildings 45 min-1 hour away go for much less - $295,000 to $450,000. What area would you suggest? I plan to self manage. My cousin is a property manager and can assist me with finding good tradesmen when needed. I'm wondering how often I should expect to be at my property. Also I have a full time job that I am staying at. Thanks!

[Rich Weese]

My larger properties are a flight away. I live in Central Florida, The Villages. I have a subdivision  that requires 2 flights to get there. No direct flights to McAllen, tX. I have 3 large apt. buildings. They total just under 500 doors. All these properties are professionally managed buildings in Dallas metroplex. I would not buy sfrs that faraway unless there was a package of 20 or more in same area. These have been great properties.