All Forum Posts by: Kristi Rudd

Hi all! I recently cash purchased my neighbor's very run down rental home. After a 15yd dumpster was placed and filled, along with 3 trips to a friends burn pile ( 3 couches, end tables, ect) the house is now cleaned out. My initial thought was to make improvements and flip it. However, I like the idea of passive income. (I can possibly have all my investment returned within 3-4 years as a rental unit..fingers crossed.) My question now is, do I make minimal improvements to have it rented out as quickly as possible? Or should I view this home as a flip home, and put higher quality materials in it, rent it for 3-4 years knowing I'll sell it after that. I've heard a lot of horror stories from those with rental properties like "renters tear things up.." ect. Anyone with experience please  share your thoughts. I am putting in new kitchen cabinets as the current ones were disgusting. I could not expect someone to put their utensils in there.. the bathtub is 1970 GREEN. But, still in great condition. I am getting hung up on the details!! Help.