Then your kids inherit at a stepped up basis and depreciation starts all over again and they decide to continue on this same financial freedom plan and NEVER do a straight sale and keeps 1031 exchanging or refinancing, they can defer, defer, defer and die too.You need to start by reading Multifamily millions  by David Lindahl, Loopholes of real estate by Garrett Sutton advisor to Robert Kiyosaki and listen religiously to Del Walmsley's at Lifestyles Unlimited.  

If you can own the property and pay a similar amount for a similar lifestyle, it's probably a good decision (assuming you can afford it if it doesn't go perfectly, needs repairs, etc.)With house hacking the rule of thumb is: The more uncomfortable you're willing to live, the better the numbers will be.

Mexico and the Caribbean countries are going to be huge beneficiaries nit only of the post-pandemic travel boom but also from the work from home trend, as more people look for a better lifestyle at a much lower cost with beautiful weather and beaches to boot.

Documentation is very important, and sometimes an issue will pop up later and you will want photos to reference back to.I would also add to be conscious of the tenant’s privacy and remember that it is their home too.

Ultimately, it's about finding the investing strategy that aligns with your goals, lifestyle, and area of expertise/skills/knowledge.

Selling real estate is not a job its a lifestyle...

I am a member of Lifestyles Unlimited. 

Long distance management of just one negative cash flow property wouldn't fit with my personal lifestyle.

This is my first post and I am eager to began my investing career and lifestyle.

In the midwest and my primary market of Memphis especially, there tends to be a range of residents that choose to live a lower income lifestyle and don't mind living in a C class area if the rent is only 700/mo.