Red flag duplex. Too cheap?

[Steven Shotts]

I have found an opportunity but I need a good inspector in my area.  It's odd.  It's a duplex next to a community college and all the other houses next to it are 100,000+, but this place is only $50,000. It's a 6br 4ba duplex.  It does say it needs some tlc. built in '78.  Pics look fine, but inside is dated.  I'll check it myself before going under contract. One renter could cover the mortgage.

[Aaron Montague]

@Steven Shotts 

GET IN THERE AND LOOK AT IT NOW!!  :)

Also, welcome to BP.

A visual inspection will tell you if it is worth taking it to another level.  Be prepared to write an offer on the spot.  Sometimes places just slip through the cracks.

On the flip side, it might not be an amazing deal:
Places only rent for $225/bedroom
Tenants expect all utilities paid (AC x 6+ is going to get expensive)
Taxes are abnormally high for the area
Lead paint
Parking nightmares...

You get the point.  Covering the mortgage is a good start, now go see if the other side is going to make you some real money!!