I just bought my VERY FIRST investment property. I am kind of excited and nervous the same time. :-) & :-(
I need your advice on following questions.
1) This is a HUD property and sold for AS-IS condition. Currently, bank had cut off water and electricity in the house. There is no disclosure on the condition of heater and A/C. They look fine to me, but could not confirm. My question, do i need to do an inspection for the house, if i do, still could not verify the equipments and water pumps w/o power. Since it has been raining a lot lately, there is no leaking in the house and very dry basement.
2) Do i need to install a dishwasher? my realtor told me to provide less machines if for investment purpose. So, my concern is if i may sell this house later on, what is the impact to the potential buyers?
FYI, I paid 65K for this small row house, the FMV in the neighborhood is around $85K-$110K.
Appreciate your feedback.
Sophie