House quality

[Justin W.]

A lot of what I'm reading says the quality of your tenants is directly related to the quality of your house. Just curious what people think about buying lower quality properties? There's one I'm looking at that is renting for$500 a month. It's a dump and the renter isn't remotely clean. I'm thinking a cash offer of $38k could get it. Would it be worth buying and letting the guy continue if you could get it for something like that? Then spend a little money when he moves out.

[Elizabeth Colegrove]

@Justin W.

Personally that is not enough money for me. While that kind of tenant would scare me, that little rent bothers me because you will not have enough profit after insurances and taxes. In addition repairs, water heaters, etc