Buying a profitable lemon rental
I am buying an old house built in 1953 that has problems. The house is slightly settling in the back and the plumbing is "iffy". It's basically a lemon and if I get an inspection performed, it will not pass. That being said, The house is a duplex and it is very close to a college campus and has been continually rented out for over a decade and finding tenants is hardly ever a concern. My question is, Should I get an inspection performed, even though the results are not going to be pretty? It's for sale-by-owner and owner financed. Or should I wait until after I have bought the property and have it inspected then. I don't think the inspection results will change my purchasing decision.
Most Popular Reply
Always make an offer contingent on inspection.