@Megan Branson Buying sight unseen has a much higher risk component, especially if it is your first in the area (or with the current team members).

It happens.So obviously you want him out, but this is a mental health and  self defense issue with a tenant component.

Even the financing side is pretty straightforward math.Knowing what to look for in your initial tour, knowing how to ballpark renovation costs, knowing if contractors are taking advantage of you in bids are all components that can make or break a deal.Other tips, as noted: get the highest paying job you can out of school and save as much as possible.  

I have helped hundreds of Veterans with this strategy.You should have a small reserve set aside for repairs or unexpected expenses, say like $2K-$5K, depending on the property condition.

@Kim LeJeuneI have to assume that it was a rental house, as opposed to your personal residence or a flip.Each monthly payment has 3 components: interest - taxable as ordinary incomereturn of your principal - not taxablecapital gain - taxable at various ratesYour down payment has components #2 and #3.Interest should come from an amortization table. 

@Kermaury MusgroveInvesting out of state can have it's challenges and extra costs like travel, bad people, unexpected repairs.

Additive, they are investing money into homes that are likely immediate performing a value-add component.

You also might face unexpected costs like special assessments, and market saturation could impact rental yields/resale values.

A big unexpected $30k issue (I've had several) will take decades to recover from. 

Market research, targeted marketing, and a keen understanding of the evolving needs of potential tenants are critical components of a successful investment strategy in mid-term rentals.Conclusion:As we navigate the complexities of today's real estate investment landscape, mid-term rentals offer a compelling case for those looking to diversify their portfolio and capitalize on the changing dynamics of work and lifestyle.