What should I be looking for? I know city and state requirements differ from city to city or state to state, but what are the basic things I should be expecting during the purchasing, repairing, and renting the property? I am looking at three properties which are bank repos and the price is pretty reasonable.
These properties were orignally single family homes not rental properties.

We have been searching this topic for some time. We live in Southern california. We can get small 2 bdr 2 bath condo for about 350 – 450k. Pay mortage, intrest and property taxes of around $2300/month, making us scrape by month to month until we sell the place and hope we get some return on it.
Or option B, rent a small single family house at 1800/month build no equity? What is better?