I had to go that far away due to the insane cost of real estate in Boston, so I fully understand the predicament.

In one of my markets assessments are performed every 3 years, and the cost of 3rd party appeals will cost 30% of 1 year savings. 

Some may require a waiting period of one to two years before leasing is permitted, while others may prohibit rentals entirely as outlined in their bylaws.Always know the property’s potential for annual rental income and ensure the numbers work.

Very few non-owner occupied property policies guarantee full replacement cost - they typically provide replacement cost up to the dwelling limit purchased. 

That risk, in retrospect, is not worth the potential return.   

If you don’t have a clear understanding of your cash flow, operating costs, and future expenses, you could be setting yourself up for financial stress down the road.The Power of Financial ClarityYou can’t make smart decisions without knowing the full picture of your finances.

We put back most of the money back into our business, as the cost of living for me is covered by the student rentals.

It would cost me only $2300 per month which includes rent utilities furnishing and property management. she showed me one example only of a customer who profited greatly.

We've learned a ton, but at a significant cost.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.