Two school of thought.. which are you?
Was just pondering this idea, which I think may be a real thing for myself and probably has been for you guys as well.
When you buy a rentable place for B&H, that has the basic necessities but is overall older. Do you:
a) Rent it out right away for a lower rent, or
b) Upgrade it, then rent it as a standout unit for a higher rent
I will also provide a hypothetical example. You purchase a place for $120-160k. You can immediately rent it for $1500, or you can put an additional $20,000-25,000 in upgrades and can rent it for $1900-2000. Lets say you have a day job and are not doing REI full time.