Start by formalizing the transition—create a lease agreement and maintain detailed records of rental income and expenses.

To thrive in real estate investing, you must maintain a firm grip on your finances.

You want enough so that a potential law suit would go away if the insurance paid out.Best thing is to highly maintain your property and treat guests with respect so that no one would ever want to sue you.

It sounds like current challenges are:* how you currently feel today about maintaining property* how you currently feel today about that particular house that you lived in and made niceIt also sounds like there are a few logistical/ timing/financial challenges such as:* the logistics of a 1031 etc.* logistics of maintaining out-of-state property and tenants* having time to research enough about this while moving across the country to be confident in your decisions and planning* having time to research other opportunities, what could be done with the money if you soldReason I bring up the emotional stuff because yeah property is a hassle, but there may be another vision that lets you get everything or most of what you want, with a little bit less hassle, or hassle in a way that bothers you less.

Maintaining a financial track record for your project is facilitated by effective budgeting.3.

Mortgage rates remain above 7% as the Federal Reserve maintains its cautious stance on inflation.

I have a a great working relationship with the owners in which I maintain the grounds and am credited monthly for my services.

So no Board, nothing to manage except State law...the organization docs for the HOA should have identified when the developer maintained control, the terms for it to be turned over and at turnover you would establish a legislative body which would be the Board...

Taking the risk of a tenant while you yourself are renting is not optimal in my opinion.

To maintain your standard of living, your rental income must increase faster than inflation.