I am thinking about buying a house in a college town a few hours away from where I live. The plan would be to hire a property management company to handle the day to day as well as finding tenants.
I plan to hold the property for a minimum of 5 years. Down payment, legal fees, insurance fees etc. are accounted for. It is not possible to buy something local due to high real estate values where I live. I used to live in said college town, and have a decent feel for the neighborhoods.
What do you wish you knew before you did something similar?