Hi Bethany,
Here is not only my point of view but what I have been practicing. I have 5 properties in western Washington. I have been traveling all for most part of last one and a half years. I come home for winter holidays and was at home for a period during summer.
When I buy a property, I fix it up completely. During that time I stay at home to oversee the project and until I put a renter in the property. When the rehab project is over, I spend one whole day at that property with my family. We camp out basically. Sleep there to check if everything is working okay- like the heater, electric gadgets, toilets, hot water, all the kitchen items by lite meal prep using stove, microwave, refrigerator and oven. We also get a feel for the neighborhood and get to know some neighbors if possible. We do all this to establish the ownership of the property in the community. We also have some of their contact numbers just in case if we needed them for anything. Also, most importantly, they can contact us about the property or tenant issues if there are any. We want to establish ourselves in the community before the tenants do.
Then, the property will be rented with a year lease. Now, I am not required to stay. None of my family members here in Washington state. I move around at this point around the world as I have family around the world. Tenants have my contact info, primarily email. Rent payment method I use is always ACH transfer. If issues come up, I contact my handyman who would check out and fix it. But, every detail must be communicated to me before he does anything and get my approval prior to the task in order for him to get paid. A couple of times I had to find specialists such as microwave repair and garage door repair people from google and send them to the property. After the repair is completed I pay with the CC.
I said all this because, I think it is a waste of money if you have done all the front end work and not anticipating any big problems. It is true if you are taking care of bookkeeping currently, you can continue to do the same no matter where you are. My tenants are happy because I take action immediately and have not had any problems when it is time to renew the lease at a higher rent.
Maya
