I'm considering purchasing a rental property (depends on my timetable for building my own home...if that happens). So, the thread title is a loaded question, right? I'm not really looking for specifics of what I need to do before purchasing a rental property, but more so just a general consensus from those who own (or have owned) rental properties before. Do you regret purchasing your rental(s)? Was your investment long term (equity), or short term (cash flow)? If you had to do it over again, what would you do differently? Any general comments about the process/experience you want to share, feel free.