As a landlord, you’ll be responsible for dealing with maintenance issues which will inevitably arise from time to time. What if there’s a leak coming from the ceiling? Or what if an appliance breaks? What if something like this happens while you’re on vacation?
You’ll need to deal with all of these problems personally, and quite frankly, some homeowners don’t have time for this. If you’re very busy, it might make sense to sell and perhaps reinvest the proceeds into stocks or some other more passive type of investment.
It’s always possible to hire a property manager, but fees can be high and small time property managers aren’t known for offering the highest quality service.
Outside of typical maintenance, there’s always a remote possibility that your unit or building could suffer from a flood, fire, incur structural damage or be impacted by some other type of costly and catastrophic disaster.