The same question is analyzed every day by millions of businesses, investors, wealth managers, financial analysts, and corporate treasurers world wide.

Remember: buying the right property the right way is important, but how you manage your rental will really determine how it performs. 

Valuation of the property is estimated at $1M and we need about $400k financed.Presently, one unit is occupied by the on-site manager, two units are leased as long-term, and the other four are STR. 

I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Try interviewing at least three managers.1.

Worse case you can furnish it and put the property on Airbnb or peer space as a venue space or STR in between long term tenants.Using an agent or property management company to at least get it rented could really set you up properly.

Most of the OOS markets investors target do not have much appreciation potential, are lower end properties that will have ongoing issues and will not give the OP the opportunity to self manage his units to gain true real estate experience and understanding.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Have you factored in start-up costs and accurate management cost? 

Hi all, Do you know any free or low cost app for property management that has a daily late fee charge options?