There are a couple nice homes in my neighborhood that have been on the market for quite a while (over 90 days). I've recently been thinking about looking into buying one and using it as a rental property. I don't have a ton of money sitting around but I have some that I would like to invest in something other than the stock market. I also figure if I can get something close to my house I can at least keep a decent eye on it and hopefully screen out the tenants much better.
Does anyone have experience with rental properties? Do they offer a decent return or is it more trouble than it's worth? This would be in a middle class neighborhood and the properties would probably go for around $200K to $225K.
Just trying to do some initial due diligence and gather some thoughts before I decide to seriously look into it.