Looking for some insight on my first potential rental property.

[John D.]

Hi Everyone...

I have found a property that is currently on the market for $40K and is tenant occupied with rent of $900/mo.  Not sure how long the current tenant has been there but I will be getting a copy of the lease for review tomorrow or Saturday.  Taxes are $1517/year.  I am in a position to pay cash for it or finance it.  Just looking for opinions and insight since this may be my first!

Thanks all!

[William Campbell]

If I was in your position I would find a portfolio lender to finance the property. That way it still cash flows and you want use up all of your cash on hand. And if you happened to find another property you still have capital to investment in that property.