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I am older and came into a small amount of money. I would like to buy an investment property so my children can have some wealth.

I currently rent and the location of the potential properties are not in my state. Does that matter as it will not be my primary residence

Should I buy a fixer upper and try to get a loan for the renovations or just buy a house outright with no repairs needed but it costs more?

I know I am leaving out a lot of details but I hope this is enough to direct me on the right path.

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