First rental buy! Most important keys to look for after ROI?
Good morning my most excellent BP members. I found a nice little 2 bed 1.5 bath house renting for $615 asking is $31k looking to make an offer of around $25k. My question is after looking at the roi the property looks really good from that perspective. I'm just looking into a pecking order of how you guys evaluate your buys once you see what the roi and cash flow would look like. Taxes are $600 a year with everything figured it would be close to $200 a month cash flow from the start. The issue is it's on a little rougher side of town not to bad though but the neighborhood has pretty nice houses around it. It is tenant occupied with a 1 year lease in place with 8 months left on it. Would love to hear some input on what you guys look for after the numbers and kind of in what order you prioritize them in. Really like the place and think it has a ton of potential look forward to hearing everyone's input! Thanks for reading