The majority of existing houses were built in the 1930s, contributing to the unique character of the neighborhood.

So, any small errors if they exist are likely caught then because we are all looking at the document and discussing each section. 

But again, even I went with a new build as there are always pros and cons.That being said, some of my clients go with the existing build route, as they know the previous owners typically have already made the necessary repairs/updates that the builder skipped out on. 

Quote from @Jacob Palmer: Existing contracts transfer with the sale.

That cash flow on paper is non-existent in reality and I don't think the path of gentrification is predictable - will it appreciate enough to make up for all my repairs, etc? 

I've made many great connections, educated myself on topics I didn't know existed before and have taken actionable steps in my personal investing business that I wouldn't have done otherwise. 

This policy will provide additional coverage above what your existing policy covers.

Instead, find properties that already exist that you can make money with. 

If an existing lease is in place you can't require the tenant to sign your lease until the current lease period ends.

The deal was done.Banks and checks didn’t exist for them and so every month I would personally go to the property and collect the rent in cash.