Most first-time buyers chase more house than they need. If I could do it over, I'd buy something like these…I’d keep more cash in my pocket, then slowly turn the backyard into a place myself and future renters will actually use. Remember, a small house doesn't have to feel small. A covered deck, quality fencing for four-legged tenants, and modest landscaping can make it live much bigger than the square footage suggests. Small homes are also cheaper to perfect and maintain. It’s the finer details that turn a basic house into a beautiful home, rental, and bank account you'll be proud of.
Purchase Price: $149,000
Down Payment: $7,450
Payment: $1,175 → $1,100
Future Rent: $1,300+
Purchase Price: $185,000
Down Payment: $9,250
Payment: $1,420 → $1,340
Future Rent: $1,400+
Purchase Price: $229,000
Down Payment: $11,500
Payment: $1,700 → $1,600
Future Rent: $1,600