What does your evaluation process look like when searching for a rental property that is worth while?
Location, tenant class, value added opportunities, and developments/growth of the future.
I like to think "if everything else goes wrong, could I live here if I needed to?"
Assuming you have already chosen an area to focus your search on (which is a whole separate evaluation process)...
1. Is there a way for me to add a value to the property? Add a bedroom, upgrade finishes, etc
2. Try to stay 3 bed room or higher (tends to have less turn over)
3. Minimize my cash left in deal (can I purchase and rehab for 75% of ARV)
4. Is the house on a good street / in a good neighborhood. I define good as the ability to get reliable tenants (I.e., not a D class neighborhood or part of town)
5. Am I comfortable with my ability to execute the rehab and can I minimize surprises post purchase when I walk through the home
Here's some ideas from what I look for-
@Brandon Toron Choose on a trusted home rental platform. In addition, the location and convenience are the focus of my consideration, but it is still the most important thing to find the right house on the right platform.