Someone please talk me out of this
To start I currently own 6 SFR that I self manage.
I found a duplex in a town that I work in 30 miles from my home and where I currently own all my rentals.
1 bed 1 bath on each side
Current asking price 19500
Current rents $495 per unit so $990 per month.
(They claim to have gotten this for the past 2-3 years but I have yet to see rent rolls)
Taxes 980 per year
Insurance less than 500 per year.
Property might need a little work here and there. Window AC units
Roof is new (last 3-5 years)
Water heaters new
Furnaces about 10-15 years old.
Bathrooms and kitchens are both simple. Nothing special but floors aren't rotted out and no holes in the walls
No broken windows basically the property does not look like a foreclosure.
D property maybe a stretch to a C-
C/D area
Now at first look this is a cash flow king but there has got to something I am missing.
Does anyone have experience with these type of rentals in lower areas?
Am I just asking for headaches or is the cash flow that good that you all out there would think it would be worth a headache here or there?