I've got 3 options...

[Joseph Weisenbloom]

I currently have a duplex in the north Dallas area and am being re-positioned for work down to Austin, Tx. My current property would be about 4 hours away from my future living area. The property is in a working class neighborhood with low crime and not too many headaches yet as far as collecting rent or maintenance issues.

From my perspective I have 3 options.

1. Manage the property from a distance: use my network of contractors and handymen if their are any repairs needed. I may even hire a Realtor if I need to re-rent the place. I can drive up 4 times a year to do inspections.

Cons: I have never done this before so not sure if it would even work out. It could be stressful if there is some type of emergency. What if a tenant just moves out?

2. Hire a property manager: pretty straightforward hand everything off and let them handle it all.

Cons: that % cut every month. Also we are in a more rural area so not many choices as far as property managers. I have heard a lot of horror stories about PMs.

3. Sell the house: I could sell the property but it may take some time to do that.

Cons: I don't think I have enough equity or appreciation in the house to break even on all the closing costs and Realtor fees needed.

Thoughts?