[kannon]

I'm looking into buying a property half way across the US where it's cheaper to buy a house, and rent that shit out.

My mans an em has a place in Michigan he bought last year. Looking into copping one of my own down the block from his. He's already got a broker and property manager lined up, so most of the hard work is out the way. I work in banking, so I got the lending locked up. But shit's like 65k for a 1,900 sq. foot duplex. Two 2br/1bath units. Mortgage/taxes/insurance would run me about $450/month, and I'd pull probably $1,300/month in rent ($650 per unit). Property manager takes 10%. Shit seems golden. Down payment with closing costs and everything would be like $16k up front. Then I just let the shit ride out...


Anyone else renting properties out? Pros/cons? Do it feel like it take forever to see a return on your investment?