Looking ahead to retirement for both of us, we would like to make a solid investment with few worries about weather events.

Currently I am looking to buy and hold for the long-term with the goal of being free and clear by the time I retire ~20 yrs. 

Some of our owners like to buy value add properties and it is up to us to raise rents, rehab properties, and make it a stable asset.

That adjustment helped him plan better for future deals.Lastly, don’t underestimate the psychological aspect of leveraging retirement funds.

@Brett Jurgens,With strong equity and a good tenant, you have a few options:Cash-Out Refinance: Offers lower, fixed rates for stable monthly payments and lets you keep the property while using equity to invest in another rental.HELOC: Provides flexible access to cash, though with typically higher, variable rates that can fluctuate over time.1031 Exchange: If you're open to selling, a 1031 exchange could defer taxes and allow you to trade up to a higher-value property or diversify into a different market.Each option has pros, so it really depends on whether you want to hold onto the current property or leverage its value for something new.

To start my portfolio, I intend to buy a property in my area to retire my mother from New York.

LTR is stable, slow, and risk is low but potentially not as much cash (right away).Comes down to what goals you have and your risk threshhold - I have friends in CO springs who do STR and MTR, and works out great - but also have folks who LTR in that area and it pays for them self and it a great way to save money in places like taxes and build equity.  

Flatter tends to be better, but even then you need to make sure the soil is stable to support your structures.  

Yeah, you lost money on your investment, but you're not risking our first responders for your views and retirement nest egg.

I'm retired and can't lose this money) be sure to fill that in.