You can always put a bad tenant in an “A” quality rental. It is almost impossible to put an “A” quality tenant into a Dumpster.
When building your rental portfolio, you want to make them as maintenance-free and headache-free as possible. From below the foundation to the tiptop of the chimney or roof. The less maintenance, repairs, upkeep, and headaches you have, the easier it becomes for you to put your rental business on autopilot, allowing you to work smarter, not harder, and pursue your passions in life.
For starters, if they are available in your town, try to acquire houses built after 1978 because this will automatically remove you and your business from all of the risks associated with lead-based paint. Unfortunately, some towns like Philadelphia, Boston, Baltimore, and so on, have most homes built back during caveman days.
Next up, unless you are buying brand new rentals, try to “cherry pick” newly built (after 1978) houses with open floor plans, maintenance-free exteriors AND energy-efficient windows, doors, insulation, and more. Depending on your climate, utility bills can be huge and I have seen many great tenants move because their utility bills were outrageous.
ENERGY EFFICIENCY is critical in today's market, both for heating and for air conditioning. How can you make your rentals more energy efficient?