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Dave Ramsey: Don’t be a long-distance landlord

Staff WriterMay 26, 2019

Dear Dave, my husband and I are active duty military stationed outside Washington, D.C. We’re completely debt-free and have finished your entire Baby Steps plan, but last month our paid-for rental house in Florida burned down. It was empty at the time, so no one was hurt, and we got a check from the insurance company for $165,000. We both plan to serve another nine years, and we know we could be moved around during that time. We love that area in Florida, though, and want to go back there one day. Do you think we should use the money to buy another place and rent it out until we’re ready to retire from the military? — Carrie

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