I have a simple rule to follow on my rentals. Monthly rent is based on 1 % of property value. So an 80K property is $800 a month rental. That pays the mortgage, taxes and upkeep with a little left over on a 10-12 year mortgage. I don’t depend on rent revenue for income but for building equity in the property. When I say property value that does not mean that is what I paid for it. I can buy a house for $35k, put $20K more into it and turn it into an $80-90 k house easy.
Just curious, where can you buy a house for $35k?