I’m at a crossroads, thinking about either selling my condo and using the equity + some cash for a down payment on a house. Or using the cash to invest in a rental property in a lower cost of living area with the sole intent to build equity & sell when I retire. Leaning on rental property but seeking advice... cont’d

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I’m in the Bay Area, CA, and looking to get a rental property in TX, IL, or FL and have a property management company take care of it. A few questions top of mind were... any advice when seeking a prop mgmt company if you even recommend? Do you have to pay income tax usually for the state you live in and the state the property is in? What is a recommended margin target (%)? I was candidly looking to charge mortgage, taxes, and maybe like $100-200 more to toss into an account if something breaks. Real goal is to wait 25 years to sell it when I plan to retire.

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