Now that you've got down the basics of purchasing a property, let's move on to strategies. One obvious option is to invest in a distressed property — a fixer-upper that won't sell or rent until moderate (or even major) repairs or updates are completed. There are plenty of those on the market, but there are also properties where a little imagination is just as important as repairs. A successful investor recognizes both categories of distressed properties and knows how to profit from them.