This is a small 2 bedroom, FMV 30k. A new subdivision w/golf course is a half block away. House is in ready to move-in condition. Rents in this area seem to be around $450 to $550. This home will easily rent for $500 or $550 (I just looked at a dump that was renting for $450, ugh!). I should have no problem l/o if renters become a problem.
Thanks for responding.
P.S. There’s also a vacant lot next to this home that I’d like to acquire.
My personal goal is debt free cash flow. So, I would probably concider the deal. It depends on the price of the property. Is the rent way above market rent? can you get another Tenant to pay that much in rent when THIS one leaves? How much work is needed on the property? Is it in an area that will be difficult to sell later?