Updated about 9 years ago on . Most recent reply
Potential Deal Evaluation
I'm putting an offer on my first rental property. It is in a rural area and is currently being rented for $510. Tenant pays all utilities. The house is for sale for $50k. I don't see much potential for appreciation, so this is a cash flow deal. It meets the one-percent rule and the deal will be contingent upon inspection to make sure there are not any major issues.
Numbers work and I know the area, but I'm nervous about purchasing my first property.