My journey to my 1st rental property

[Account Closed]

This site has very helpful so I figured I'd start a post. 

I'm new to the world of real estate investing and have found what appeared to be a good deal. 

In Northern Louisiana, I've found an old home in what appeared to be a good neighborhood for under $25k. 

I'm still in the inspection period, so I'm re-evaluating things. 

My first concern was the report of knob & tube wiring. From my understanding, this is common in homes built in 30's. By the way, the 1st electricians quote to repair was $11k, which is double what I anticipated.

My second concern was the middle of the street shootout while the home inspection was being conducted. The home inspector gave me the details. 

I'll update the post, as I'm reconsidering and reviewing other options until close. 

[Stone Jin]

Good neighborhoods do not have middle of the street shootouts during the day.  I don't have the stomach to buy in those neighborhoods, the return on paper is always better than the return in reality.

good luck.