The houses I have bought so far were new / newish but now I  am opening up to other approaches like flipping and BRRR. 

I do not want to put money into stock market right now.

This approach allows for more flexibility in managing tenant relationships.

@Jesse Santos, if this rental is in NJ then the 1.5 months security is the MAXIMUM allowed by law.What is the typical security deposit for a rental of this type/quality in your market?

If so, and if your HOA allows, you could market this as a mid-term furnished rental and charge a premium for rent.

I personally am located and invest in the Colorado Springs metro area and would advise that you may not find many BRRRR opportunities on-market and will have to do some work to find these deals off-market. 

Was it available at a good price or did you get it off market?

Most seller's will not give out cash for keys under contract (in my market of Chicago).

I appreciate your thoughts and am absolutely keeping an eye on the market, resales, etc.

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