Need advice on north Kansas City home purchase
I am contemplating on buying a home in north kansas city, MO Huge 5 bedroom single family home! The only challenge is if it would have a positive cash flow? The home is at 293k, 4000 sqft. Rentals are around $2300/month. The CAP rate is around 6%. My biggest concern is the time the house will be on market before getting leased. I am out of state investor and not sure about the Kansas City, MO market! Common sense - I feel that at high rentals the home may take about 2 months to find someone who will rent at that rate.
Looking for some advice from the pros here!