Good deals on rental property go fast..

Although good deals on houses go fast don't jump in before you've checked to see whether there's water in the pool. Always remember that not all bargain priced properties represent good deals. You have scored a good deal only if you can sell the property for substantially more than you have put into it. Beware of underestimating fix-up expenses. Beware of hidden defects. Beware of pouring so much cash into improvements that you'll have to overshoot the rents level that tenants are willing and able to pay. Always temper your eagerness to buy a bargain-priced property with a thorough physical , financial, market, and legal analysis. Act quickly when you must . But the less you know about a property, the greater your risk.