Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

When I have a situation like this, I give them a written notice to accept the property in its current condition or get out.

Do you think you will be in TN long term?

@Ogonna Odo A small number of my contractors have started accepting credit cards.

What's the annual ROI on the cost of the points to you in terms of savings?

Owning a duplex at 20 is a huge accomplishment, and it’s inspiring to see you’re already planning your next move.From my perspective, real estate investing is a long-term game focused on building equity, paying down debt, and maintaining stability over chasing short-term cash flow.

I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Definitely some cause for long term concern, but this also can give opportunity to other investors that are willing to invest out of state or more people moving to other states like AZ and TX with long term appreciation in these markets.How is the appreciation in Phoenix?

I have contacts for long and short term managers in the Tampa/ St Pete/ Lakeland area.