i just rushed into a condo that is great to live in but wouldnt make a ton of sense (financially) if i didnt enjoy living in it...

Hello fellas my name is Hamad yahya Alyaqoobi and I’m 27 years old, a new guy looking forward for financial freedom.

I’m not ready financially to do so today. 

I pulled a report with 1,881 with property in Paulding and Hall Counties single and multifamily homes, high equity, home value $50 to $250 (may want to drop to 200).Consider mixing the Absentee with Seniors with 20+ year ownership and Low Financial Stability Scores (FSS).

I have two questions for the community- 1-Do you have any general advice related to purchasing a condo versus rental related to making smart financial decisions?

The seller agent mentioned that the owner was not financially able to fix the repairs.

That seems to be a tightly wound  financial rubber band that could snap at any moment.

Being unable to pay the rent because of an unexpected bill is simply a sign of poor financial management.  

After being burned by tenants that get behind and never end up paying and lead to eviction I now state in my lease that we start the eviction process the day after the rent is due, but I make sure that is clear form the beginning and if they fail to pay then we charge a late fee and start the process of eviction based on my states requirements.The reality of the matter is that if they don't take the rent out of their paycheck then they most likely wont pay the rent, if they do then they are borrowing money which will put even more financial burden on them and make it less likely to pay on time the next month, or they are waiting until their next check to cover the rent and then will have a hard time catching up in order to pay on time snowballing into perpetual late payments.If you really think about it allowing a tenant to get behind on the rent ends up hurting the tenant, you are not helping in any way.

This way you will even have additional revenue stream coming while you stabilize your financial situation.Reach out to wholesalers and get on their mailing list to look for deals.