[header] How to purchase rental properties [title] Opt for an apartment or condo if you have a limited budget. [step] If you do not have a lot of start up capital, go for a smaller rental property within your means. Look for an apartment or condo that you can rent out to tenants. 
An apartment in a low rise building or a high rise condo may be a better investment than stretching beyond your budget for a bigger rental property. They can also be more low maintenance than a house.