Newbies to real estate investing! Military couple!

[Emily Holcomb]

My husband and I are military to military and just relocated to Luke AFB (west valley Phoenix AZ) we are looking for any/all advice regarding turning our first home into a future rental property.

a little background about us...

-We will be living in this home roughly 3-5 years before we rent it out.

- in the past we have fell victim to throwing our money away on base housing (rental townhomes)

- we put an offer on a home this morning that is well within our budget that would give us plenty of cash flow for upgrades

-we’re interested in meeting people with similar goals and interest around the phx area.

What are the main things you look at when considering purchasing a potential rental property. (Updated Water heater, AC unit), what are a few other examples?

Any and all advice is welcome!