Tenant in place vs rehab first
So my initial plan is to invest in multiple single family rental units with a low entry cost. I think I’ve found some good opportunists in OH and MI where I can get some great ROIs and decent cash flow, and finally like I’m ready to be one of you guys :)
My biggest fear is, of course, having an empty property sit for an extended period of time. But I assume that’s the biggest fear for all cash flow investors. So to alleviate that fear, I’ve found a number of properties that fit my criteria and have tenants already in place. So I was thinking that would give me an instantly producing property that I can hand off to a property manager.
Do you any if you have an opinion as to whether this is a good strategy? Or is it better to rehab the property first and then put up for rent?
Thanks in advance!