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Updated about 6 years ago,
Long Distance Landlord
Hi All, I am a new real estate investor. I am planning to move approximately 550 miles away to a new state for a new job. I intend to maintain my primary residence, purchased just over a year ago, as a rental property. The home was new construction last year, so I don't think capital expenditures should be that high, if at all in the early years, due to builder warranties. I have never landlorded before, but due to razor thin margins (per the rental property calculator), I am considering trying this long distance. Is this too much to bight off for a newbie long distance, while also starting a new full time job? Should I pay for outside property management?