With real estate prices down, interest rates at record lows and rents holding steady, its never been a better time to get into rental real estate. One can purchase rental property with a down payment of 20-25%. As a rule of thumb, you want to make sure the price you pay for your rental property is no more than 12 times the annual rent you will be receiving. For example you purchase a home for $150,000. You want to make sure annual rent is at least $12,500 which would be $1042 on a monthly basis. Keeping this rule of thumb will allow you to achieve a good rate of return on your investment.
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