Living in Nebraska...buying investment property for my retirement

I'm single, 54 and am planning on moving from NE to WA in one to five years (depending on enconomy). I would like to buy property now. The property will be something I plan on moving into when I make the move and of course will have to rent out until I get there. Preferred property will have water view and wil be across the Puget Sound from Seattle. Am also considering a investment property in Tacoma that's bank owned, in an renovated building located in a trendy, old neighborhood. Listed at $134K. Units in that building rent around $1200. HOA= $320. I would not plan on moving into this unit, but would sell it or keep it as investment if it makes sense when I move.Income: $40KCredit score: 785Current mortgage: $660 (includes taxes). Balance = $54K, appraised at $110K two years ago. (Values in this area have not been affected tremendously by the economy.) Would sell when I move.Car payment: $300Credit card: $2,000 at fixed 2.9% so have been paying slightly over the minimum but could pay it off401K: $130,000 (DEFINITELY affected by the crazy market)Other investment accounts: $190,000Beneficiary annuity: $165,000Savings account: $12,000 Am I silly? I don't know where to begin other than I'd have to get a properly manage since I won't be there. Advise appreciated!!! by lendie_964_288 from Lincoln, Nebraska. Sep 21st 2011 Reply