The importance of a property's age?

[Brandon Roof]

How big of a role does the age of an available property play in your decision making when deciding whether or not to proceed?  Where does it fall in importance (i.e. cash flow is more important than age but central air isn't) and do you have any parameters that you operate within (i.e. won't consider any properties over XX years old?  What would a property need to have in order for you to look beyond the age?

[Lynn McGeein]

It depends on your own comfort level.  I do not like properties pre-1978 as I just don't want to deal with the lead requirements.  My daughter just purchased a 1960s split level as her husband is in construction and has contacts that can handle any issues like oil tank removal, old cast iron pipes, etc., for much less cost than someone who is not in the business.  Even with newer homes, you have to worry about different years for polybutylene? pipes, Chinese drywall, termite damage, etc., so it's pretty much just figure out what problems you would rather avoid and go with the years that usually don't have those issues.