Just because its cheap doesn't mean its going to be a great deal because numbers may look good.

Buy a house cheap, rehab it, and keep it for a rental for a few years.

I am planning to buy a house next year, I could buy a nice but cheap house near the hospital I work at for about 100kOption 1: Keep the large nest egg invested.

$120K is a lot of money to basically rent for cheap. 

Don't be suckered into buying cheap properties - unelss you know exactly what you are getting into.Here's some copy & paste advice that applies to just about any Midwest rental market:--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Section 8: All the S8 “gurus” promote putting S8 tenants into this Class of cheap properties to “get rich”.

In my area it's pretty easy and cheap to switch it over to the LLC.

And the cost for a 2x4 or a sheet of drywall are the same, so I guess the labor costs are dirt cheap down there in H-town!

That tells me the bigger issue might not be just the yard, but overall curb appeal or pricing.More Cost-Effective FixesInstead of a full sprinkler system, here are some budget-friendly ways to improve the yard without draining your wallet:•Fresh Mulch & Gravel: Super cheap, easy to DIY, and instantly makes the space look intentional, even if the grass isn’t perfect.

Definitely don't sell it and buy cheap Class C in Texas or other state for "cash flow on paper" - I learned a painful lesson with those types of properties.