Buying investment rentals... (Newbie)

[MarieChele Porter]

I'm looking to get into buying, buy and hold properties and wanted to get some opinions. What's your personal preference on whether to buy property that needs rehabbing, slight touch-up, turn-key, or do you buy them all if the price is right? Just trying to get a since of what has worked, not worked and why did/didn't it work for others in the past. 

Also if anyone prefers or has ever invested in manufactured homes for rent I would like feedback on that experience as well.

Thank you guys, as always any feedback is greatly appreciated! :-) !!

[Ned Carey]

I like to buy properties that need renovations. If you buy turnkey you are paying a premium. If you buy ready to rent properties you are competing with homeowners. If you buy fixer uppers you have the opportunity to add value via rehabbing. This means when you are done you should have more value in the property than you have invested.

While buying any one of the above is OK if you can buy at a substantial discount. Getting into properties with equity, is done most consistently by adding value via rehabbing.