A lot can go into setting up your rental property, including insurance, homeowners association fees, utilities, advertising, cleaning, repairs over time, rising mortgage payments and taxes are some critical factors, to name just a few.
Some rental property owners hire investment management firms https://interactive-wealth.com/ to take care of the property, with fees typically between 8% to 12% of the monthly rent collected.
As an investment, a rental property can be a slower - but reliable - source of income than flipping a home at the height of a booming real estate market. Though home values soared in the past two years, that frenetic pace is slowing.
A rental property can be a smart investment - if you can afford it.