Buying a Rental as Future Retirement Home

[Edward Jakubiak]

I own a relatively local rental that I want to sell and buy a potential retirement home. My daughter lives in Tampa so the gulf Florida coastal area would be okay. Also the Smokey Mountain area. I’m partial to NC in part due to the inflated Tennessee house prices.

What is a good strategy for doing this? STR vs long term rental is an issue. Both are not local but I'm barely breaking even with my local. I heard that Mgmt company percentage is very high in hot markets. Does supply and demand eventually bring it down to reasonable?

Thanks in advance!

Ed from Baltimore