Investment Info:

Condo buy & hold investment.

Purchase price: $230,000

Cash invested: $50,000

2 Bed 2 Bath Condo with attached 2 Car Garage in Walled Lake city center. Very close to Walled Lake s...

Quote from @Kevin Reinhardt: Best practice: screen and approve every adult, whether they work or not, and have them all sign the lease.I highly recommend you purchase "Every Landlord's Legal Guide" by NOLO or "Managing Rental Properties" by Brandon Turner.

I could mid-term rent my house, which would cash flow more like $1k per month but there's more potential for vacancies.

Condos can be a good option for new investors, but updating kitchens and bathrooms might not add as much value compared to single-family homes, especially with potential restrictions from condo associations.

Have all the applicants or potential applicants check out the property between a hour or two timeframe.

I've narrowed it down to the Birmingham, AL and Cleveland, OH markets and have been looking at properties in these areas and "running the numbers" for practice.

I am currently looking at a few locations/properties though Zillow, redfin etc. to get an idea of the rent/cash flow potential in the surrounding areas.

These are also great potential private investors.When you get to the point where you don't need the cash, you start to think differently. 

We'll see how it goes, and if nothing else I'll end up back with PropStream of I don't find another potential source of Listed and Sold information. 

This could include recent property tax assessments, insurance quotes or invoices, or any other relevant financial information.Another option is to contact a real estate attorney or financial advisor to review the escrow analysis and provide guidance on potential next steps.