So, I have quite a bit of money stashed. I've been living with my folks for the past year and a half while I work with the police department. Money is good, but I could always use more. (Yeah I know, I'm selfish/greedy). I've been thinking about investing in a duplex or a triplex here in town. There super cheap, around 130k-150k. The tradeoff? Its of course in a not so good area, but its not terrible. Anyone have any experience in owning rental property? Or know of the obstacles/loopholes that come with it? How did you choose your tenants? Did you bother giving the duplex a makeover? Is it worth it to do cosmetic upgrades to the units to an already occupied unit and then raise the rent a bit? Any and all advise would be greatly appreciated.
