I’m self managing my first rental property in Charlotte, NC.

I'm also investing out of state and just got our first rental property.

I don't think anyone predicted that.I've always thought for rentals it's better to buy a $250,000 house and hope for the chance it goes to $350,000 than buy a $500,000 house hoping it goes to $750,000. 

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

Like to learn about long term rental

You can google rental property <item> depreciation schedule for anything you’re improving. 

Also, I would look at rental rates to property values to determine if any areas are around the 1% rule.

Never think twice about it.If we are making some or all of a mortgage payment for a few years on a vacation rental, it's only the interest that is lost - the rest is paying off the asset, all while the asset continues to go up in value through the years.I hear ya man, but I want something that is flowing positive in addition to any appreciation.

Thanks to everything I’ve learned from the podcasts, books, and this community, my wife and I currently own:A triplex in MaineA single-family rental in San AntonioA single-family primary residence in Las Cruces, NM, which will become a rental when we move in a few monthsFor context, I’m an active-duty Army officer with about 12 years left until retirement, and my wife works for a university in Boston.

My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.