Buying a duplex in a shady area
My wife and I just placed an offer for a duplex in an area across the street from a small trailer park in Alabama, but around the block there are houses for 150k and above. I’d say it is a C class area.
The cash on cash return will be around 14%, from the historic rental information and the 20% that we will put down for the property.
How stressful is it to deal with low income tenants? Knowing their credit will be low, what are some good points or questions to ask potential tenants to find out if they are the best fit for my wife and I? (We manage our own properties)
Thank you!!