😊@garymariencheckIt's a good plan, but make sure you drive the neighborhood on a Saturday night to see if it's a location you would be comfortable having your family in.

The way this country is going your going to need to be rich to be comfortable.

Holding free and clear properties that have low property taxes here is great.If you are not comfortable with stocks I would not move to stocks. even if you decide to move to stocks do it slowly. 

I have never purchased anything out of state but have sold a lot of property to out of state owners.Everyone is a little bit different.Some people start with emails, progress to phone calls and then fly out to tour the town.Some are comfortable buying after many email exchanges and phone calls.Others exchange a few emails and start buying right away.

The number one fear of new landlords is placing tenants, so this adds a comfort level for them.

I've also told some friends I'm not comfortable with the living with me.

I am in the middle of a deep rehab on another property; 2 SF vacancies + getting into a new deal might stretch things a out of my comfort zone.

Unique idea about the extra long closing, though I'm not sure I'd be comfortable with that since I see all too often seller's get jumpy, even if a contract is in place, if they have too much time so that makes me a bit hesitant.

Because I will be doing the rehab and garage is a clean slate, here are a few options I am considering:Convert it to a master suite, which will make the house a 4/2 with 1500sfConvert it to a studioConvert it to a 1/1 My goal at the moment is to maximize ARV for refi, but I am not sure how the appraiser will look at it.

Maximizing profit also maximizes work - there's no free lunch in life - so I play it by ear.