I have a condo in Connecticut that generates a cash flow of about $750 a month, and I have approximately $130,000 in equity at a 3.25% interest rate.

However, I’ve been hesitant due to challenges like remote management, high interest rates, and low cash flow.

Since you are new to the market, you can look at what the top rent pulls look like and cater accordingly on the design.You always want to build relationships with contractors, but that takes time and you always need a solid bench, just like in basketball because some days your starting plumber just doesn't show up and you need to bring in the backup.The rates are the rates and they aren't going way down soon so it's just part of a different metric to evaluate in your new market.Good luck!

Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

If heat goes out in the winter we drop off several units, so they can be placed in different parts of the house - including every room with water like kitchen and bathrooms.We also have dehumidifiers, carpet blowers, shop vacs, puddle-sucker pumps, extra hoses, extra sump pumps with battery pack, squeegees, and portable AC units ready to deploy. 

so every step is tougher.2. you don't really compare the interest rate when purchased and the interest rate when refinancing - that is apples and oranges. 

I would cross check their rental rates they are giving you with the Property Management Company.

Rent growth is a function of supply, demand, and interest rates:- I'd ground any forecast by stating I expect national rents to rise on a pace more or less in line with inflation over any long time period. 2-3% per year.

And now with rates being high, plus many areas overbuilt with new apartment buildings, I’d be careful with unknown areas, and also what you read in the media about “hot” areas, up and comers, etc.I was in a similar situation to yours a couple years ago.

You only want to file a claim if it's much greater than deductible or your rates shoot up pretty quickly.