You need to price your rental property so that all of these fees and other expenses are fully covered. Additionally, you should take the first few months of surplus money and set it aside to cover the cost of repairs on the property. You should carry good insurance on the property and be prepared to deal with additional costs and other situations as they arise.
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If you are purchasing land that you plan to sell at a later date, you need to research the property deed thoroughly. Find out if any roads are planned close to the land you purchase and consider how that will affect the property value.
You will need to make sure the building is completely up to code, and that you are in compliance with local codes and home owner association regulations before you begin renting it out.
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