Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

You can also use the search feature (magnifying glass in upper-right) to look at previous conversations.

. - Property type (single-family homes, duplexes, or small multifamily)- Min/max square footage or number of bedrooms and bathrooms- Desired cash flow or ROI metrics to ensure profitability- Property Condition (turnkey, light cosmetic fixes, or heavy rehab)- Neighborhood type (A/B-class areas for appreciation vs.

Do your due diligence.furthermore, are there any burnout houses close by, is it in a safe neighborhood, is this in a rural area, is it a metropolitan area, what's the economy like there, just because other places nearby are renting doesn't mean that your house one block over is not next to something that is uninhabitable, or poses a security risk, or maybe near an abandoned field, a graveyard, an airport, many different factors there to consider.  

The only place this would appear to make sense is in Class D neighborhoods which could cash flow.You have rights to income but nothing else - sounds like an unsecured note at the end of the day.Chris you make good points.  

I tried searching the forum expecting to find something but was having trouble.

I think you will need to look at fredericksburg or further away - and most likely a property that needs work.You can find some on the maryland side but be careful with some of the neighborhoods those homes are in.

Timing, interesting neighborhood How did you find this deal and how did you negotiate it?

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