Do you buy older homes for long term rentals?

[Bryce Jamison]

I tend to shy away from homes over ~20 years old to buy and hold for long term renting. This is because I'm concerned that even though the things in the house I can see look great things like the electrical, plumbing, or the foundation may need major repair if not immediately relatively soon. I'm also concerned older homes have already seen their biggest jump in capital appreciation and don't have as much potential for price growth compared to newer homes.

What are your thoughts on older homes? Is there something I'm not taking into consideration? Would a low enough sales price make all of my concerns go away?

Thank you for your time!