How far away will you self manage?
I have a property owned by a family member that is a 2% property. Triplex. Fully renovated and rented. Each unit rents at 525.
525×3= 1575
I know all the other numbers and it would be a great addition to my portfolio. Family built the building and have owned it for 30 years. But it's 50 minutes away. What do you guys think?
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An hour drive is the most I would want to do...
Is there a lot of deferred matenence on the place? When I hear someone have owned a place for 30 years I think of differed matenence and undervalued rent.