What shape do you like your properties to be in?

[Carloz Gil]

If you are looking to buy and hold and primarily looking for cash flow, what conditions do you like your the properties to be in?

I've heard: property should need some work that way there could be some value added. If that is the case, what work do you like to do to it? And what do you want to avoid? Besides the roof and foundation.

I've also heard: Little to no work. Fast cash in and out. If this is the case, do you look for deals on the MLS or elsewhere?

What do you all prefer?