Hey Jim,I would definitely consider it, if the numbers are right.If the ROI is worth it, id toss the keys over to a property management company.If you choose not to use a property manager, I would be sure to screen screen screen the tenant.Hope this helps!

You are close enough to at least be part of the screening process and meet possible tenants.

Tenant did not have a history of skipping on utilities - we checked that in screening.

Screen your own tenants, lots of good resources here on BP, and don't let the management company dock you a month's rent each time it turns over.

FHA loans are best for 2 flats.

I have an older 1930's built 2/1 in FL, at that time nothing was insulated.

A poor person living in a dumpy house while renting out nice flats

Is this setup fee typically a flat fee, or does it depends on how many accounts you are rolling over from.

I would start advertising the place for rent as soon as possible, do some phone screenings, and would try to get a better idea when the work could be completed so you could set up visits after that.

I haven't been able to become unglued from this chair in front of the screen!