Some properties are cheap because they have dated fixtures such as the kitchen and bathroom, not to mention decoration and flooring.
If you want a smooth tenancy then you need a good quality Tenant. Good quality Tenants will not settle for bad quality fixtures. A clean and modern kitchen is a must, a shower is a must, good quality flooring and decoration is a must - the list goes on. Think about the kind of house that you would like to live in.
Yes, you can purchase properties which need renovation at a cheaper price than a modern property but consider this.
You will need to renovate the property. You will set a budget and timescale but sometimes problems appear out of the blue and affect both budget and timescale. Whilst renovation is being carried out your property is empty so you are losing rent and spending on renovation works. This needs taking into account when you budget for purchasing your investment property.
Brookdale can advise you (free of charge) about works required.