Any reasons not to cave into the fear?

Caveat Emptor - Buyer Beware - only make an informed decision.
Headline tips on buying; 1. buy Freehold or if leasehold, only buy a long lease with low non-incremental ground rent & check no onerous clauses within the lease 2. if leasehold check when section 20's were last carried out for block maintenance (pointing, roof etc) and redecoration internally/externally plus age of lift etc because even if no s20's are pending, they could roll round within 2-4years after you buy 3. only buy EPC rated C or above properties, 4. research best tax adviser to set up a Ltd Co & do yearly accounts at sensible fees 5. research areas where demand is always high & best gross yield & capital growth, 6. if requiring a mortgage wait until SWAP rates come down & are reflected in lenders product pricing 7. make sure you have sufficient funds to pay upfront costs such as SDLT, solicitor & valuation fees, mortgage lender fees if applicable, kit & fit the place out with white goods & furnishing if to be let furnished, possibly redecoration, tenant find fees & referencing fees plus R2R checks & a possible void with utility costs & council tax due during void period, deposit registration fees, plus Inventory fees (and check out fees in due course). 8. allow for time/cost of Making Tax Digital 9. Unless an accredited Landlord, you may not be allowed to let out a property in the not-too-distant-future 10. Then you need to allow for letting agents fees to manage the property ranging anywhere between 6-15% plus any other fees charged for renewal etc, mortgage interest, buildings & rent guarantee insurance, Public Liability Insurance if a flat in a block as block buildings insurance does not cover this if let out, Contents Insurance if quality goods, surprises from Councils if for example buying a freehold house beware Councils are on the rampage to get property owners to pay for dropped kerbs & associated costs, plus boiler, plumbing, drains cover & white goods cover is recommended, ICO registration re GDPR, Service Charge & Ground Rent if leasehold, Selective or Additional or HMO licences every 5years, EPC every 10years, Gas Safety checks annually, Electrical tests every 3-5years & all C1&2's need addressing in order to pass, Smoke & Carbon Dioxide & Heat Alarms, Portable Appliance tests yearly or at worst every 24mths, and for ongoing repair/redecoration costs & external maintenance plus winter checks such as clear guttering & no loose or missing roof tiles & managing condensation issues such as needing to install special units & fans & pest control costs as/if & when - the list goes on. For everything after smoke alarms I suggest you put aside an additional 10% of the rent if a new property 10-15yrs old & 20% for older properties & if not all used in any one year, roll over as another year could be costly e.g new boiler, roof, leak damage etc. Lastly is the impact on the bottom line yet tbc as a result of the Renters Reform Bill which includes the abolition of Section 21 no-fault evictions, introduction of Periodic Tenancies from day 1, Lifetime Deposits, an update on the Model Tenancy Agreement to allow tenants the right to keep a pet, regular PATs for all supplied appliances, rent review notice periods, minimum housing standards by widening the Decent Homes Standard to include the PRS, mandatory Ombudsman membership, new Property Portal.
I'm sure I've missed things but these are the headlines to build into your decision making & planning.

Reply to the comment left by Laura Delow at 22/10/2022 - 08:49
I would add, keep at least 18 months rent in reserve to cover arrears and legal costs until eviction.

Reply to the comment left by RODNEY CRABB at 22/10/2022 - 08:22Thank you for sharing your advice Rodney, I really appreciate your guidance. My circumstances will be different as will be moving abroad so will need a tax accountant that knows about uk and overseas tax which is why I have to pay for a specialist in this regard. Pinches! But not much choice re compliance. Do you run yours through a limited company?

Reply to the comment left by NewYorkie at 22/10/2022 - 09:54
Ok will keep this in mind. Thank you NewYorkie.

Reply to the comment left by Laura Delow at 22/10/2022 - 08:49Hi Laura, thank you for sharing your knowledge and expertise. I can see you have a vast array of experience in this. It was hard for me to understand all of what you wrote as I am completely new to this and have not studied enough about property investment to be anywhere near your level. I do however appreciate everything you wrote and read it even though I did not know what it all meant as I have not been in the game long enough. But exposure to the terminology you shared and scenarios are good for me to familiarise myself with. Thanks again.

Also if you purchase a Leasehold property only buy if the building has Right To Manage (RTM) this is gives the leaseholder’s the right to appoint the managing agents and have totally control over all spending.

I certainly wouldn’t buy without out RTM in place.

Reply to the comment left by David Smith at 23/10/2022 - 08:06
Thank you David. This is really helpful to know. I've been educating myself through various sources for months now and not come across "RTM". This is such an important point to bear in mind.

Reply to the comment left by SARBJIT SEHMBI at 26/10/2022 - 01:33
Sarbjit as mentioned before regarding the EPC if the property has a C rating take a close look as to why it’s a C.

There might well be an assumption that for instance there is roof insulation in a roof that can’t be accessed therefore a C rating is given but in the future if it’s proven that there is no insulation then it could drop to a D rating .

Reply to the comment left by SARBJIT SEHMBI at 26/10/2022 - 01:33
I echo David's advice to choose a leasehold with the Right to Manage (RTM). I and fellow leaseholders suffered horrendous exploitation by the freeholder and their 'associated' managing agents. Achieving RTM has improved our development and reduced our costs and stress.
I noted you intend to live abroad, and I'm sure I read something recently about HMRC making that more difficult if you let UK property. Worth some research.