Rental Property Analsysis help, first purchase
I am looking to buy my first rental property and would appreciate any advice or opinions on this potential deal. The house sits on 1 acre and is a 3 bed/1 bath in a quiet and safe neighborhood just outside my hometown. Owner said it stays rented and that he got $450/month. The interior looks a bit outdated so I’d like to do a few minor cosmetic repairs. Flooring, bathroom, paint, etc. I figure after a face lift I could potentially rent for $500-550. I’ll leave some pictures below and would love to hear what you guys think. Any questions, feel free to ask! Thanks
Asking price: $30,000
Past Rent: $450