Originally Posted by Jayhawk
Go for it Mr. Musik! I've had rental properties for 25 years and cannot recommend anything as good for long-term capital appreciation and cash flow! I wouldn't know a wrench from a screw-driver, but have a great maintance guy who does all that crap for me. Go for it!!! And the market here is no better than it is in your area.
First of all, thanks for your advice and encouragement.
I thought that hiring someone else to do the maintenance work would (at least partially) negate the potential profits to be had (?) but I suppose this has a lot to do with the condition of the property when we buy it.
Another thing I discovered in this area, is that landlords typically buy an apartment building, keep it for 5-6 years, do next to nothing to maintain/improve it, and are then trying to double their money by selling it. I looked at several, and they were all dumps, to put it mildly.
Anyway, I haven't completely given up on the idea, and hope to rent my modest home when, and if, I can financially justify moving into a nicer one, or at least a better neighborhood.
Congratulations on your real estate successes!