Do you have the cash to rehab a property on top of the 20% down payment and closing costs?

Hey Mario, yes out-of-state investing can work well especially if you're in a high cost of living area.I invest in Detroit and live in California.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

With housing prices skyrocketing, the increasing cost of raw components and lumber, and labor shortages, the idea of owning a piece of income property is just not in the cards anymore for many individuals.

If you were to do a cost seg on a new property, you may just create more passive gains rather then active which you mention you are after. 

They would most likely use your liquid assets (cash, stocks, retirement account) to qualify to make sure you have enough for downpayment + closing costs.

Lead free is a different inspection and costs more.

I think you’ll be able to write off the costs of going after the rent but not the missing rent.

However, one rental covers the cost of the dues ($800 give or take). 

I recently wrote about this for BiggerPockets: https://www.biggerpockets.com/blog/dollar-cost-average-real-....