We look for good school systems, low crime and desirable neighborhoods.

I’m not going to replace toilets for that, but when the time comes and they need to be replaced I will replace with old school toilets that can manage the crappy situation.

Couple other things to consider, property / school taxes are high, and tenants have lots of rights.

Screening: Includes income verification and rental history verification.

What is their previous rental history like?

It's very important to perform your due diligence on the operators, the markets their operate it, ask for their past transactions, history of their track record.

It depends on how the transaction is structured, and the history of the title and timing. 

A great REALTOR will help you gather rental history and the cost to own and show you good sites for pulling rental projections, but you will need to do your own calculations.Everyone's mileage varies.

For context, before I learned about his 6 unit I was planning to purchase a 2-3 unit long term rental in Q1 2025 as my first of many deals with a 5 year goal of financial freedom so I can coach my daughter's high school cross country and track teams.

The rest is history.