Local knowledge might be helpful, particularly when thinking about niche markets.Expert Advice: Considering the intricacy of your circumstances, consulting a financial adviser or a real estate specialist can offer tailored recommendations based on your unique objectives and position.Remember that every real estate decision should align with your long-term goals and risk tolerance.

Appreciation, tax benefits could make it a sound, long term investment.

No income tax if it’s your primary residence and you own for two years.  

For example, they will receive a lump sum for their equity, and receive the rest of their equity over time, which spreads out the capital gains taxes they pay.

One thing you might also consider when choosing a place to invest out of state is; After you have property there you can visit the area for business and a have tax write off.

What documents are needed for me to claim this on my taxes? 

If one is renting out a percent of their personal property, that same percent of the profits will be subject to capital gains tax at the time of sale.

That GRI does include income for cleaning, taxes etc. though normally, which is really pass through expenses for the most part.

“Am I happy enough with what I can make off of this property between cash flow and appreciation and tax benefits that it is worth my while?”

We used tax returns, work bonus payments, any extra money for down payments and for renovation.