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Updated about 6 years ago,
Distance from property as first-time landlords
Hello!
My husband and I are negotiating what could potentially be an awesome deal for a 6-unit rental property. Obviously there are a lot of financial aspects to this decision that we are working through, but I have a non-numbers question. My main concern is that we currently live just under two hours from the property, and I'm wondering if that may make things difficult. I lived in this property for about a year (which is why I know the current landlord) and have some experience with it. When I lived there we had almost no maintenance issues. I understand that involving a property manager could remove this quandary, but for now we'd like to manage it on our own (for experience as well as monetary benefits). I'm not bothered by driving itself, but I don't know if the minimum two hour delay in getting to our tenants for anything may have significant consequences. For current landlords, what's been a manageable radius from your residence in your experience? Any advice would be much appreciated!