Buying $40k rentals in Florida?

[Colin C leamy]

I'm tired of barely scraping by and I've decided to give the BRRR thing a go. The most I can afford is a $40k-50k home. I live in Connecticut but the prices here are insane so I decided to try Florida since my grandmother lives down there and she can be my local connection.

I see everyone talking about $100k+ homes in Florida, is it not a good idea to buy $40k rentals in Florida? I also notice there are a lot of houses sub $20k in Florida that seem decent. Are these bad targets? I don't really have any current debt but my earnings are barely enough to get by at the moment. I can't afford much but I'm hoping to use this BRRR strategy to get out of poverty.

Thanks.

[Caleb Heimsoth]

Likely they will be in a crappy area. If some guy named Clayton Morris is telling you this is a good idea, run the other eay