Walkable distance to Walled Lake Beach and Michigan Air-line trail.

Needless to say, weekends are best for me due to distance, but I would like to attend, so I'm following this topic.

the answer i'm giving is based on the assumption that you do not want to / can not float the negative cashflow any longer. and note: even if appreciation / debt paydown / tax benefits strongly outweighed the negative cashflow, most investors wouldn't want to / couldn't float that. so that said, i say SELL. you have just over a million dollars in equity (minus transactional costs when you sell), and you could do a 1031 exchange into a ~4 million dollar CASHFLOWING property. i invest long distance into value-add multifamily on the west side of chicago. gearing up for my next deal right now. in that price range you could easily get a value-add multifamily with potential to cashflow 15k/mo+++ (up to 40k/mo) once it reaches its full potential. it sounds like you're in markets that are probably strong for appreciation and weak for cashflow (with the long term rental strategy). if cashflow is your goal, 1031 into value-add multifamily in a higher-cashflow area. don't let having to pay commissions during the sale stop you. you're already losing so much annually; you have to stop the bleeding at some point. also note that right now, with the way these two properties are losing money, that might negatively affect your borrowing power when you go to buy the family home. feel free to dm me if i can help in any way!

I would appreciate advice for long-distance investments!  

I've seen a lot more interest since the last week of January than I did almost all of H2 2023 combined when I first took a (distance) look.

In Metro Detroit, many cities require the owner to live within 25 miles of their rental or have a property manager within that distance. 

Can we locate it with in driving distance of the new Intel plant ? 

When selecting your choice, take into account elements like the local climate, your distance from friends and family, and your general standard of living.

@Adam Rasmussen I agree ... the house will be used as college rental... it’s in prime location literally walking distance to one The College of New Jersey... right now the houses in are rent for 2500-3000 a month...

Investing long distance brings on a whole bunch of additional/different issues.