My rental property makes $650 a month, but there were 4 things I had to do before I ever saw a dime

Courtesy Kelly Burch When I was shopping for my first house, I chose to buy a home that I knew would make a good rental later on. While renovating, I made choices that would be appealing to renters, even if they weren't my personal style. Then, I used a home equity loan to purchase a new, bigger home, while renting out my first.