That’s the first thing I’d do differently. But the other issues – the turnaround time between reported issues and needing to repair them, spending money to draw up papers that didn’t do anything to help us later, the property manager that tried to steal it right out from under us, and the delays between knowing we had a problem and being able to act on it – those are all issues where our proximity would not have made a difference.
I know a lot of folks make a very nice return on rental properties. This was definitely not an average experience. I guess I’d prefer to do my investing in ways where we aren’t so exposed to things going so sour. Knowing that the tenant met the realtor at the door with a shotgun? I can go a long, LONG time before I ever want to be associated with that sort of thing again.