It will be very important to have both in place because of the fact I will be investing out-of-state.

Things like a website, an email at your domain and credible social accounts (even small things like a profile pic and bio) can show you are a legitimate business.

Bonus if you do any of this in a Roth account.

One thought was to move the thermostats from the apartments to a single conditioned space and place temperature monitors in each unit to make sure the apartments are at a comfortable level.

These qualities are far more valuable than the numbers in your bank account.7.Set clear goals.

In the meantime I would put the money in a low risk account gaining 4-5% which for $250k would be around $1k/month.Hey Chris - what is driving the sentiment not to buy anything right now?

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

If places like yours are sitting at $2200 with no traction, you’re taking on unnecessary risk, especially as a first deal.

If it pays for itself, it provides you with a "free" place to live during the off-season.

Their a/c starting leaking and has missing ductwork, and is blowing air in random places.