Posted by Ernest Tew on May 01, 2000 at 06:10:14:
Unless you can personally oversee the operation or have a local person you know you can depend on, investing in out of town homes can be a problem and wouldn’t be recommended.
However, if you are willing to share the profits, you might consider a joint venture with someone else who is in the business. You could provide the money and the other person (who lives or works near the homes) could do the work. In that case, you might want a preferred interest. For example, you get your money back first and then split any profits equally.