We got it for a song and cashed out extra money at closing to renovate the property and rent it out.

@Andrew Johnson  I have been funding out of state cash flow for investor for going on 15 years now... my simple advice for them.. buy the best you can... and have a way to scale to 10 doors asap... this mitigates the buying in the hood disasters.. it mitigates expense of travel to visit your collection of real estate..

I personally will forgo cash flow to get the big payoff down the road.

Forgo to tag.

YANCY - There is a reason the Eagles wrote that song.  

Thanks for going to all the work of putting all these BP posts into your post !!!   

for going about analyzing a specific neighborhood? 

There is a reason the Eagles wrote that song so many years ago.  

Properly construct a self directed retirement plan - and learn to invest through it - maximizing your retirement funds.Also, research several different business models, and create a business plan for going forward, if you haven't already.

One of which the same tenants has been there for going on four years with never a late payment or problem.