Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Are their listings detailed with good-quality photos?

Set aside reserves for unexpected repairs or vacancies.

This gives you a foundation for making a fair offer.Secure Financing: Be prepared to show you’re a serious buyer with funding lined up, whether through cash, traditional financing, or a creative option like seller financing.Have a Strategy for Repairs or Development: If the property is distressed, outline how you’ll handle improvements to bring it back to productive use.

Lots and lots of research.Price points also help, block quality, etc.

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.

If you think about the time it takes you to clean up and repair.

They have a good selection of quality rugs for reasonable prices.

I perhaps naively went ahead with the registration and inspection after completing purchase of the home, and wound up with a hefty repairs bill of around 3k.

Are their listings detailed with good-quality photos?