It'll take a year-ish to stabilize the property and to work out the kinks/maintenance that you did not know about when you bought it. 

If I would have known about these earlier I would have bought less personal real estate, but again it depends on your goals of leverage, building wealth, risk, and your overall perception on how to handle your money.      

One recent property I bought the listing agent disclosed that it needed new sewer lines.

Quote from @Renee LeFevre: We just bought a townhome in Woodbridge, Virginia.

Here's a bit of background:I have over ten years of experience in real estate.I've bought and sold hundreds of properties in the past two years.I have six performing rental properties and aim to expand this to 50 by the end of the year.

Hi, I bought my first commercial NNN property in South Carolina in 2023.

For ballpark numbers, we bought the home for $850k ($715k left on the mortgage), and once the renovation is complete we'd be looking to sell for about $1.5M.  

When I started buying places as rentals, I also bought a newer condo and it's done well, but still struggles to cash flow (in part due to a long term renter and rent caps, but also increases in condo fees) while a house I bought at the same time has had higher turn over (allowing me to increase rent to market value) but does cash flow nicely. 

In 2003, I bought a 52 unit complex in Fresno. 

Purchase price: $365,000 Cash invested: $550,000 Bought and renoed a 1965 house into a modern farm house.