Long-Term Wealth Building: Holding onto the property can contribute to building long-term wealth through both appreciation and rental income.Cons of Renting: Property Management: They’ll need to manage tenants, handle maintenance, and deal with potential vacancy periods.

Challenges?

It's always a little more challenging investing in out of state (I invested out of state for 15+ years) but you can still be successful doing it. 

However, there may be a commonly expected way of handling it in your area.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

As others said out of state can be more challenging based on location but local or out of state both can be done. 

Challenges?

Securing financing is often one of the biggest challenges new real estate investors face.

Challenges?

Unfortunately, the end of 2024 has brought a string of financial challenges for my family, and I’m feeling the pressure.Two weeks ago, I was laid off from my job.