Rental Property: How old is too old?
Evaluating a triplex in Lousiville, Ky. Louisville is known to have a lot of older homes, but how old is too old?
The house is built in 1904. Three 2 bed, 1 bath units. Two out of the three are currently rented. Considering 10% of rent for Vacancy, Repairs, Capex, and Property Management. The numbers still fit the bill. BUT... is the age of the home an automatic deal breaker?
I am looking to house hack and buy my first multifamily home very soon. Would hate to start out on a bad property.
Would love to hear any thoughts or advice!