Hello! Does anyone have any experience or insight on investment properties based out of state? I am located in Chicago, where the Cook Country real estate taxes are unbelievably high. It seems like there's a lot more room to make money by purchasing a rental out of state, where of course I'd need to hire a local property management company to oversee the day-to-day, etc.
Assuming the right property can be found, it can't just be as easy as ballparking roughly 10% of rental income to go to the property management company... can it? What am I missing?