💰 What to Look for When Buying a Rental Property 🏡

Investing in a rental property can be a smart way to build wealth and generate passive income—but only if you buy the right one. 👀 Whether you’re eyeing a cozy cabin in the woods or a downtown duplex, here’s what you should be looking for before signing on the dotted line. ✍️

1. Location, Location, Location 📍

The neighborhood is everything. Look for areas with:

Strong rental demand
Good schools 🏫
Low crime rates 🚔
Amenities like parks, shops, and transit 🚉

A great location = higher rent potential + lower vacancy risk.

2. Cash Flow Potential 💸

Will the rent cover your expenses and leave some profit? Calculate:

Mortgage
Property taxes
Insurance
Maintenance
Property management fees (if applicable)

Use the 1% rule as a quick check: if the monthly rent is at least 1% of the purchase price, it’s worth a deeper look.

3. Condition of the Property 🔧

Fixer-uppers can be great deals—or money pits. 🕳️ Get a full inspection and consider:

Roof, foundation, HVAC 🏚️
Plumbing & electrical ⚡
Cosmetic vs. structural repairs

Don’t forget to budget for repairs and the time it’ll take before it's rent-ready.

4. Tenant Appeal 👀

Ask yourself: Would I want to live here?

Is it clean and well-maintained?
Is there natural light? ☀️
Is there parking? A yard? Laundry? 🧺

The more livable and appealing, the easier it’ll be to attract (and keep) great tenants.

5. Rental Comps in the Area 📊

Check nearby listings to find out:

What similar properties are renting for 💵
How long they stay on the market 🕒
Vacancy rates

This tells you what income you can realistically expect—and if you’re overpaying.

6. Legal & Zoning Considerations 🧾

Make sure:

The property is zoned for rentals
There are no short-term rental restrictions (if that’s your strategy)
Local landlord-tenant laws work in your favor ⚖️

No one wants to buy a property they can’t legally rent out.

7. Exit Strategy 🏁

What’s your long-term plan?

Hold and rent for cash flow?
Renovate and refinance?
Flip later on?

Know how this property fits into your overall investment goals.

Final Thoughts ✨

Buying a rental property isn’t just about the house—it’s about the numbers, the neighborhood, and your long-term game plan. 🧠 Do your research, run the math, and don’t let emotions drive the deal.

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