I looked at somewhere between 150 and 200 deals before getting my first deal and that was at a time when market conditions weren't as tough as they are now. 

Daniel,If its something you really like from all accounts, get with an inspector and property manager to give their thoughts on the area, condition of the property etc...

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

If it holds up under these conditions, you've got a solid investment—better safe than sorry!

The rest of the home was kept in good condition for resale.

The rest of the home was kept in good condition for resale.

It is in good condition, but has a lot of deferred maintenance. 

The main condition was I had to have the downpayment (20%) first, close the deal, and then execute the owner financed 2nd mortgage. 

I’m back now and looking for some guidance on an idea that caught my attention.An old high school friend of mine has been buying older houses, either renovating or tearing them down and rebuilding, depending on their condition.

•Likely, the new property wouldn’t be cashflow positive due to the market conditions.2.Upgrade to a Bigger Property and Sell•Sell our current home and move into a larger house to better meet our family’s needs.• Use some equity from the sale to make this transition smoother.I’m torn between maintaining our current home as an asset and buying  a new smaller house to use as a rental after we move back in versus simplifying and focusing on a single upgraded property Considering factors like market trends, potential equity growth, and quality of life, which path do you think would be most beneficial?