I will have about $20k saved up by next year and probably thinking a 3 bedroom and 2 bathroom house or townhouse that is under $90k and charge about $550-$600 for rent based on my area.

You wanting to move walls and change floor plans, or just do things like paint, update bathrooms, new counter tops?

I had made my mind to buy quality homes that I would live in myself. 1980 or newer, Single Family Detached, 3 Bedroom, 2 Bathroom, 2 Car Garage, Single Story, 1200-1800 SF, in good middle class neighborhood, good schools, no private pool.

Repairs needed:Roof will need to be replacedPool filledFloors need to be refinished and will need new floors in some areasDrywall damage in the walls in a few placesLighting FixturesInterior Paint (whole house will need to be painted)Bathrooms will need to be updatedKitchen will need to be updated (cabinets can be refinished)AC was replaced in 2013 Indoor/Outdoor 

The basic layout was kept except we stole a second closet from the smaller bedroom and flipped it around to make that space into a walk-in-shower in the master bathroom.

@Bob Smith high 500's to mid 600'sOther features like a third bathroom or a heated pool allow slightly higher rates and/or contribute to higher occupancy as well. 

This home brings lots of character and tons of upgrades including: New HVAC, roof, energy efficient windows, flooring, bathrooms (with tasteful vanities and Italian plank tile), upgraded plumbing & electrical...etc.

Purchase price: $265,000 Cash invested: $42,000 Sale price: $332,000 Amazing entry level property in the heart of town. 4 bedrooms, 2 full bathrooms, single story, 2-car garage attached, large 6,970 sq. ft. lot.

Enjoy this 3 bedrooms, 2 bathrooms home.What made you interested in investing in this type of deal?

Just from seeing the pics I know it needs 2 new bathrooms.