Is this the right rental to start with?
Looking for first rental property. Here is what I am considering:
Single family 1 Bed, 1 Bath. Asking price $25,000. (estimated market value is $37,000-44,000)
Newer roof, water heater, furnace.
Rent goes for $575-$650 in this area for this type of house.
Ran numbers through BP's buy and hold analysis and seem ok to me. Would like to get feedback from other members. This would be a first rental property for me. Not first property, we have renovated and bought and sold properties. New to rentals though. Please advise. Thanks!