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I used to think owning a bunch of rental homes was a reasonable strategy for achieving financial independence. And then, Covid showed up and the government illegally suspended the requirement of tenants to pay their rent. Glad I didn't own any rental properties at the time.
Then, my dad passed away and we moved our youngest into his condo. Immediately the AC died just before summer set in. That was rather expensive. After the AC was replaced, someone smelled gas around the cooktop, and we learned the cooktop needed to be replaced. Then fall set in and the heater failed, though the repair was inexpensive. Then over the Christmas holiday, the clothes washer took a dump and blew a load of water down the hall. All of the hallway wood flooring needs to be replaced, as well as the flooring in the laundry room -- about $5k.
Condo is in Ohio and we live in FL. So, there is the remoteness issue. Luckily we have a sympathetic tenant!
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