If I Were to Buy an Income Property, I'd Only Do It Under These Circumstances

Buying income properties is a good strategy for branching out in your portfolio and getting into real estate. But so far, it's a strategy I've stayed away from.

Don't get me wrong -- I'm a big proponent of real estate investing. But so far, my personal strategy has largely centered around buying and holding REITs, or real estate investment trusts.

Of course, I've toyed with the idea of investing in income properties, and I even have funds that are earmarked for a vacation home, which, ideally, would serve as sort of a hybrid investment. But if I'm going to purchase an income property, I'd only move forward under these three conditions.

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Source Fool.com