Should I be afraid to invest in houses with a wet basement ?

[Ronald Wentz]

Looking to purchase my second rental property in Cleveland, Ohio. Most properties I have viewed have had water in the basement from the floor drains or seeping from the walls. Should I let this be a deterrent, could be simple repair or it could be major. Thanks for any advise.

[Ryan Evans]

Exactly that, it could be a simple repair or a major one. Most 100 year old houses are going to have some level of moisture in the basement, though. Even nicely finished basements often have issues once you get the moisture reader out. 

If you're just looking for unfinished basements in mid level rentals then a little moisture shouldn't always be a huge concern if the foundation is solid. If you're in a part of town that justifies it, you may have to factor in waterproofing to your rehab costs and that can obviously be expensive. 

Check the gutters, downspouts and grade of soil/cement around the house and make sure it's draining properly as a lot of basement moisture issues can be fixed by backfilling and extending your drainage further from the building. Plus, if it's minor, you can always just run a dehumidifier in the basement year round. It's a minor toll on your electric bill, but I know a ton of people in the area who do that and it seems to work just fine.