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RE: Closing On My First Investment Property
As long as you get good tenants, it's a great investment. If it's not too late, I'd recommend putting in the rental agreement, that you (landlord) is allowed to visit the house once a month (including a walkthrough). You might not use that clause, but in the case of a destructive tenant, there's no legal hassles to inspect your investment once in a while.
I don't know what the rules are like in the US, but in Canada, if you get a tenant that destroys the place, it's still next to impossible to evict them.
Yeah the tenants seem to be good thus far. I actually chose Pennsylvania because of the low taxes and that its a landlord state generally. Evicting people is much easier than in other states, even some that border it. Im not too worried about them causing a ton of damage, just the usual. The nice thing about my property is it seems to be somewhat desirable for renters so the quality of tenant is a bit higher than in surrounding neighborhood homes.