I am looking to purchase a rental property. Does anyone have some advice in determining criteria for buying a rental property? I look at it from these 3 points:
Does the property price and current rental rates create a positive cash flow if financed 100%?
What is the growth potential of the city in which you are looking?
What major industries are located nearby which contribute to the citys’ economic structure? ie: Good job growth, population growth, etc.
Does anyone have other comments or imput? Most appreciated!