Hi Itay, I'm a vacation rental designer that specializes in data-driven design to maximize ROI.

Quote from @Jinxiang Xu: New to being a landlord, and already forked out $20k for foundation repair on this rental house.

I was terrified when I bought my first rental.  

Personally, I would not keep a rental that is not expected to cash flow. 

@Rory DarcyRecommend 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 property in Class D area to Class A standards, what quality of tenant will you get?

I do not currently have any rentals.

So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

I’m a relatively new real estate investor with one house-hacked rental under my belt.

It's down the street from our rental which we BRRRR'd two years ago.

Quote from @Devin Peterson: Quote from @Kieran Dowling: Hello,My parents helped me by my first rental property .