Why would I want to buy rat holes?

[Alec McGinn]

I always see cheap houses for sale in my market and they are complete rat holes and the realtor always says “great investment property” well my question is do the best investments always come from rehab? Wouldn’t it be better to buy fully rehabbed move in ready houses so that all of the rehab is paid for with OPM? I am a new investor with no rehab experience yet, but I would rather not have to fix up properties and instead leverage my debt for immediate cash flow. Is rehabbing ever the way to go for buy and hold real estate?(besides BRRRR)