C-class neighborhoods there are ideal for Section 8 and long-term renters.

Scale with a long-term plan, acquiring one or two properties every few years.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

Always trade offs, especially depending on how long that buyer is looking to keep the property, or refinance.

So fortunately for us, unlike with malpractice insurance, our warranty doesn't have to last a lifetime!

If your priority is building wealth sustainably and positioning yourself for long-term financial independence, I’d strongly recommend considering properties like duplexes, triplexes, or even quadplexes.

This is our second property but the first with long-term tenants. 

You may or may not wish to fix it since its likely too late to charge the last tenant's security deposit for it and also that it sounds so minor that people didn't even notice it right away.

I think renting out a single family can be a viable option for some people as long as they understand it's not going to cashflow like a multi. 

Ask if they had X, Y, or Z work done in the last 12 months, how much it cost, and who did the work.