Find a good rental property
The good rental property need to be in the good location such as close to college, mall, shopping center, offices, major high way, etc.
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The price of rental property and the financing term will determine how much monthly mortgage do you need to pay, thus it will affect your monthly cashflow. 
Property condition is very important to determine the cost to fix it or update it. However you will need to change the carpet and fresh paint the wall every few years.
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