Residential Income Property

Residential income property refers to real estate designed to generate rental income. This can include single-family homes, duplexes, apartments, or condominiums that landlords rent out to tenants. Investors purchase these properties to earn money through rent payments, which can provide a steady income stream and potential appreciation in property value over time. Managing residential income properties involves overseeing tenant relationships, maintenance, and finances. It's a popular investment strategy as it combines income generation with asset growth, contributing to long-term wealth building.