First of all, in order to consider any type of residential investment, one must consider the following: (1) Are there other rentals in close proximity ( ie -on the same street)? (2) Is the property single-family or multi-family use? (3) Type of neighborhood (stable, unstable)? (4) What are the surroundings (ie., schools, grocery store, parks, retail) (5) What are the demographics? (average age, population, family-oriented, and the like) (6) What are the crime stats? (7) Make sure you obtain preliminary appraisal. (8) Have an engineer check out the foundation (9) Have a home inspector to thoroughly check out the house ( especially the roof and electrical). (10) Find out the average time a house sells in the area, because home that are selling at $250k or less sell the fastest ( 3 months or less). (11) Obtain a preliminary O&E from a title company. (Ownership and Encumbrances to make sure the title is not clouded or have a lot of liens) The above is just a few items that need to be checked out before investing in a residential property. But, please request a call from me and we can go into a more detailed conversation! Thank you!