It’s the cheap way to do it!

Hi, I am actively looking and putting offers for my first rental property, I just saw a townhome that I like from the 70's that needs some rehab, and a few blocks from it there is new development offering same type of units (a bit bigger) 10% more expensive with delivery lead times of 6 months.

Think about it- if the property is cheap and it's been sitting for a while, maybe that's because on one wants to live in that area. 

You don't pay for those big buildings with low premiums and cheap rates.Good luck...Jay

The most similar scenario I encounter is folks who buy trailers for dirt cheap to rent out here. 60k entry (or whatever they are going for) then 600 a month to lease the pad/land.

MKE is still a great market, but quality investment grade properties are not exactly cheap and that is probably true for most Midwest markets.

Leasing a Maytag laundry center from Wash.com would cost me $100/mo, but reviewers say they can take weeks to come out for repairs.A local place called Mission Laundry Equipment can lease me a Speed Queen laundry center for $110/mo, or sell it to me for $4,299 (actually $5,450 with all taxes and fees for delivery, installation, and setting up the credit card system).

With their backlink service it’s not cheap because of the quality of the links, but I’ve personally vetted their process and as far as hiring out a service in this space for links, it’s the best I’ve seen so far. 

Some places are cheap and look great on paper, but reality is very different as they have higher turnovers and more problematic tenants...they also don't increase in value as much.

@Nubia Silva seems like relatively cheap repairs so I would advise to not make an insurance claim if you intend to expand your rental portfolio.