Purchased my first rental property!

[Chandler Calvert]

What’s up I’m chandler and new to bigger pockets. I’m 24 and live in Arkansas and just purchased my first rental property. I acquired a 2 bed 1 bath 1,264sq ft home built in 1961. It honestly doesn’t require any work to be tenant ready but may improve a few things. I ended up getting it for $49,900. I worked with a local bank to secure a conventional loan for around $42,500 after the required 15% down and ended up with a 7.25% interest rate. Basically just looking for suggestions on where to go next with the rental property business and looking for pointers to keep me from making large mistakes. This property in our area should go for around $650-$675/m and once I feel it’s ready I’ll be starting to accept tenant applications.