About to buy my first property!!

[Jesse Mistretta]

so I spent a lot of time searching for an investment property and I finally found one that I liked it's in Cary North Carolina, I put the offer in for 153,000 and can rent it out for 1200 a month based on comps in same development. Any tips for the next steps to come or land lord tips? I'm at the point where I need a mortgage I'm probably gonna use Bank of America the interest rate they gave me was 3.3% for 30 year, I have  excellent credit and just paid my agent the due diligence and escro fees for inspectors and such. Basically the closing is in November. 

Other info:

HOA is 165 a month

Covers all exterior jobs except windows 

New roof was put in 2014 

I think it might a replacement HVAC because it's from 1991 when the house was built 

2 bedroom 2 1/2 bath 

Natural gas heat

Has new pair and new carpets in now 

I negotiated to get all appliances to be included 

[Andrew S.]

Jesse,

Are you sure your lender knows that this is a rental property (no owner-occupied)? Just wondering as that rate is amazing. Also, I assume you have checked the bylaws of the HOA to make sure you will be able to rent the property (some have restrictions).

Finally, do you believe that there is upside potential on the rent?  Make sure you double-check your numbers.  Depending on what your goals are, you may be ok, but your numbers would definitely not work for me - I think you are likely going to see a negative cashflow.