Deal in small < 1900 population town

[Imran Raz]

I came across a deal in a very small (tiny) town. Population is about 1800 people and trend seems to be downward from past couple of years. It is a multifamily building with all 12 units rented out. The seller owns the  building for 2 years and he is looking to sell because he is in Fix and flip business and not in the long term hold. He also mentioned that all units are rented out and have long term leases. Rough estimates of what I was given so far seems to show 7.8% cap rate and 12% Cash on cash return. My real question is, would you consider buying a multifamily building in a very small town? is it purely depend on numbers? are there any benefits of going into small town? what are cons beside obvious ones.

Thanks in advance.