im buying a two family rental property to rent out, any advice or tips?

Answer 1

Keep a file on every tenant.
If they call you about the property, make a note of it and put it in the file. Record what you talked about and what the outcome was.
Make friends with a local handyman that can help you at the property. A friendly relationship can get you better pricing and quick results.
Take pictures of the property, inside and out. Hundreds of them if you need to. A good quality digital camera should suffice.
Talk to your insurance agent to make sure that you have the correct insurance; you will need to insure the real estate and your tenant needs to insure their own property. Both of you should have liability insurance as well.
If you don't have a good source for your contracts, hire an attorney. It will be well worth the $200 to have the correct document in your hands. Include some solid language about the security deposit and how it will be treated when they vacate at the end of (or the middle of) the lease.
Have a back-up that can be called if your tenants can not reach you. Hopefully you have someone close to the property that can help.
Drive by as often as you can to make sure everything looks good.
Do nice things for the tenants every now and then (new light fixtures, garage door opener, furnace, etc). They will hopefully appreciate it

Good Luck!

Answer 2

2

Answer 3

Renting can be a bad turn of events. if you want steady income try flipping homes. one flipped home can equal your profits of 3 rental years! Trust me I know , Just one investor to another if you email me ill send you a site that can help you with landlord issues and contracts and a site on flipping and you could do the math yourself you dont have to take my word!

Answer 4

the numbers work I hope, you will be bound by the lease and its terms with the tenants