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Updated over 7 years ago,
Rental Property to Purchase For Rent - Poor Parking
Good Afternoon,
I have a single family home that is up for sale that i'm looking to potentially purchase. All the numbers work out well in my favor. The only down side is that there is literally only 1 parking space and no other off street or even on street parking. It's a 3/1 and i'd keep it as such. The numbers aren't high enough to flip, but work out well to fix up and rent and a cashflow of $302/mo+.
My only concern is the parking situation. Am i limiting the audience that would be willing to rent. with a 3/1 you almost expect 2 cars...
Any advice? Walk away or do the deal?