Buying first rental property Have offer on the table of $49.5K for a duplex that has renters who pay $550 per unit ($1100/month)-was originally listed at $69K but talked it down-On the corner of the block with a bus station right out front and a restaurant right next door-built in 1900-will need work very soon probably Or should I wait for:A newly renovated SFH in an up and coming part of town for the same price that rents for $700/month.As an experienced investor, what would you do and what are immolate things I should consider?

If the house is in move in condition, I would consider selling to avoid abuse from a renter.

If you think the animals are being abused , you can call animal control .

In doing my homework, I found that two of the tenants are on the sexual offender list (they have lived in the complex for 9/10 years).

For the TAW I plan on giving 30 days notice before making them responsible for their heat, but for the tenants on lease I can't make any changes until the lease is up.I am thinking about getting a thermostat that won't go over 68 degrees so the tenants don't abuse the free heat during the winter.

@Darryl Smith They have a bus tour this Saturday.

Determine your criteria and stick to it...c or b apartments with pitched roofs, brick construction, on a main road with good marketing opportunities, close to relatively good schools for the market, on a bus route, with a mix of studio 1 and 2 bedroom apartments might be a start for example....You need an accurate picture of where the property is at now.

Animal control can remove the dogs ASAP as they've been abused and neglected.

I thought that that was crazy - we did have issues prior (one of the roommates moved out claiming domestic abuse) but the last couple of months, things have been ok.

There was one sexual offender that was registered with the county that lives there.