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RE: Should We Buy a Rental Property?
I say go for it! ever since i read the book rich dad poor dad, i've had it in the back of my mind to have a rental. generating passive income (as long as the house is stable and doesn't require too much maintenance or expensive fixes and you can get good tenants) in this way just makes so much sense! good luck with your decision :)
Yeah that book and my experiences as a landlord/roommate in my home now make me feel like it would be such a good idea. But I also worry about the fact that it's 3 hours away and I won't be close enough to keep an eye on it all the time. I think the house itself is a really good buy but I'm not sure about renting it out solidly without worrying about the tenants.