For your first rental, prioritize properties that are "move-in ready" or require only cosmetic updates. Major structural or system repairs can quickly erase your initial capital [7]. 📝 Phase 3: Due Diligence and Closing
Lenders typically require a 20-25% down payment for investment properties, as they carry higher risk than primary residences. buying first rental property
Use services like Zillow Rental Manager to run credit and background checks. A bad tenant is more expensive than a vacant unit [20]. For your first rental, prioritize properties that are