What to look at when buying a rental property???
Hi MissLiss – The primary thing you need to be aware of are the major systems and components of the house: the internal systems – heating/cooling, plumbing, electrical – and the external things – foundation, roof, siding. Also, spending a small amount of money on an inspector is money VERY well spent. Not only can you re-negotiate the previously agreed upon price if something(s) come up in the report that is going to cost a lot to rectify, but you will also have a good idea about the condition of the property. If you are serious about buying the property, you should view the inspection as a necessary and required part of the buying process. In terms of specifics, cracks in the foundation are a major concern first and foremost – that could potentially be the biggest expense you would incur if you need to cure it. Also, pay attention to the state of the roof; if the roof needs to be replaced, and to avoid water damage throughout the house, you should check the house for previous (or on-g
