We stick to high quality neighborhoods and homes and are doing really well with it.

The interior will need to be repaired and repainted.I've done several 1900 - 1920's and while they usually have good bones, the electrical can be underpowered for today's needs, and the water lines can be corroded galvanized or even lead.

One of my applicants showed up with little credit but no defaults, no evictions, and only traffic violations and verified income high enough to cover well over 3 times the rent and I accepted the tenant despite there being some signs.He paid the rent in time for the most part until a few weeks ago when he stopped and I could not get ahold of him.

I'm starting to acquire furnishings and am looking for a checklist of sorts to help keep myself organized as I seek the best deals on high quality goods to furnish our rental. 

Talk about aiming high, right?

.- If interest rates remain high, this is further upward pressure on rents in the near-term, as the alternative to renting - buying a home with a mortgage, is expensive - this should increase demand for rentals. - Rents are also a function of supply - 2024 saw the most new construction of multifamily units in American history (nearly 575,000 estimated 2024 deliveries of new multifamily inventory), and 2025, while not a record setting year, will see deliveries top 500,000 again - a huge supply increase. 

Unemployment was high but I had savings and managed to find work.

Tenant buyers that put a high option fee have almost always exercised the option and purchased the property. someone puts 50k towards the option I suspect that has a high potential to convert.. someone that does 10k much less..

Some theming is basic and some is overdone, try to be unique or at least high quality, not a place you want to skimp.

Besides that, just wanted to chime in real quick - I'd highly check in with a CPA and I am no tax expert, so wanted to preference that.