'The property has been rented.

Otherwise its all about the classic location location location.

Hello,Tenant moved out and owe's last 2 months of unpaid rent.

@Joshua Ryan Lindsay If it was me, I'd rent it.

Cleveland, Baltimore, Toledo, Indy etc....You will see net population decreases in most of these areas but these are the areas where the prices are the lowest in the USA and come with rents that are very high when compared to the sales price.

@Joe Gellenbeck 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 Class A property in Class D area, what quality of tenant will you get?

Section 8 can be a solid strategy, especially in cities like Detroit where the rent-to-price ratios often make it worth considering.

Monthly rent = to 2% of the price.

Where are you three located? 

Investment Info:Condo buy & hold investment.First primary residence (2 bed/ 2 bath condo) located into a desirable part of Southern California.