Would You Own a Rental Property that's 200 miles Away?

[Michael Eastland]

I am a new potential investor. I'm still lurking, reading, learning here. My long term goal is to take early retirement from my company within the next 2 years, and buy a couple of multi family properties to supplement my income.

My situation is that I currently live in CT and have a get-away place in New Hampshire. I am considering making my investments up there since the long term goal is to live there at some point but I am staying in CT for the foreseeable future due to family obligations.

My questions is, is it wise to try to be a long distance landlord? Especially since it would also be my first time? I have connections up there that could handle minor repairs and stuff like that and I am close enough that I could run up there if something big came up or there was a major tenant issue.

Any thoughts?