Ready to jump in!
After years and years of procrastinating it's time to become a landlord! I currently live in North East Philadelphia ( Tacony) and I'm ready to either A. Move out and rent this place out or B. Buy a rental. After years of researching I've setlled on either Point breeze ( waited a little too long I know) or Fishtown. I have a deal in place for a house in Kensington/port Richmond but I'm having a hard time finding a bank to approve a loan under 50k. I'll be looking at my first house in person Monday on the 2000 block of Titan st. I'm on here to learn as much as I can from investors in the Philadelphia area and any help/suggestions would be greatly appreciated!
For a first time rental property what are the main things I should be concerned with? I'm not worried much about immediate cash flow as it will be a buy/hold which is the main reason I'm looking into point breeze. Thanks in advance ladies and gents.