Arebelspy, we'll have to talk about the long distance rentals at the camp mustache event. How long exactly have you been acting as the long distance landlord?
I don't do long distance landlording. Some do, I don't.
I manage my local properties, and have a property manager for my out of state ones.
I am considering doing a long distance landlord thing for my current ones when I FIRE, move out of state, and start full time travel, since I have everything running pretty smoothly and management takes no time or effort. Turnover is the tough part. I have a few thoughts on it all.
I'm glad to chat about real estate any time. :)
I'm guessing you thought I long distance landlord because of this comment:
There are areas outside of Seattle that have a bit better yield, but at that point I don't see why not invest long distance (i.e. you're the same amount of time away from a property if you have to drive a few hours to see it or if you have to fly a few hours to see it - either way the goal is to not visit your properties, but have them self sufficient).
My point was not that you need to visit the property, just that if you think one a few hours away is manageable, most places are a few hours away via plane. I'd just go long distance and get aPM though - factor in the cost, like you would anything else, and see if the numbers make sense.