Rental property makes a great investment. But, just as with any real estate purchase, location is everything Your best bet for a solid rental property will be in an established, high-demand rental area, with easy access to schools, universities, shopping, and other amenities. Avoid “white elephant” buildings with an unusual design or location, or isolated units stuck out in the boondocks. Look for a location that you would find attractive if you were renting. Once you select a general area, you’ll need to decide whether you prefer single-family homes or multi-unit apartments. Both can make good rental properties. However, there are some important differences. Single-family houses are often in shorter supply as rentals. And because they’re more desirable from a tenant’s standpoint, they generally command a higher rent per square foot than apartments.

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