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Investing in Another State
  Dear Edith,
I am currently in the military and living in california. I am orginally from upstate NY. My question is:
Is it legal to buy and rent out property in upstate NY while living in another state?
thank you,
Kelcey
 
 

It's certainly legal, but I don't think it's wise.  Being an absentee landlord is asking for trouble.  Renting out property is not as easy as you may think.  It takes some know-how, and you shouldn't try it unless you're going to be nearby, or have someone nearby taking care of things for you.

 
    Edith
Originally published on June 22, 2007
 
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