Rental property that doesn’t need rehab

[Mark Dolan]

Hey guys, I have been reading some of the material about analyzing deals and it is often suggested that you can add value to the property by upgrading certain parts of the home and in turn generate more cash flow each month. While this concept makes total sense I am just wondering if this is an essential requirement to ensure positive cash flow being generated from the property?
 

Is it possible to find a deal that makes sense where the property is ready to rent right after purchase? Or is doing some rehab work standard with investing in any rental properties? 

Thanks