You start collecting rent from day one, which can help offset mortgage payments immediately.
Buying a tenant-occupied property offers immediate financial perks but comes with inherited responsibilities.
You cannot choose or screen these tenants yourself. If they have a history of late payments or property damage, you inherit those issues.
You are responsible for all safety codes, HVAC, plumbing, and structural upkeep from the moment of closing. Critical Due Diligence Checklist