A good friend & I live in the suburbs of Chicago. He is determined to buy rentals in Daytona and hire a property management company to handle everything. His thinking is that there is more profit in Florida because the property taxes are lower.
I’ve tried, unsucessfully, getting him to realize that cash flow of $400 in Illinois is the same as cash flow of $400 in Florida regardless of the taxes. My perspective is that I’d rather watch over something in my own back yard rather than be clueless 1500 miles away.
Either way…anyone know the approximate cost of property management fees in Daytona, or in general?
I appreciate any estimates you may have,
Mattman