What would be the first step I would need to take over here where I live in order for me to get on the right track. INFO in case it helps you answer: I do have family in Miami, FL to take care of things for when I'm not there, and I will be using a VA home loan.I want to buy a house in Miami, FL and rent it out but I live in San Diego, CA...?
Can you use a VA loan for an investment property?
If your family is not going to be helping you by screening tenants, collecting rent etc, you will need to hire a property management firm. This will cost you about 10% per month of what you are charging in rent.
I would warn against being a long distance landlord, especially if this would be your first time at being one. It is hard enough to keep up with tenants when you live nearby.I want to buy a house in Miami, FL and rent it out but I live in San Diego, CA...?
VA loans are ONLY for owner occupied homes.
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