It's a terrible deal. Don't waste any more time on it.
@Ken Vogel it's not very good. I would research a common term here called the rent to value ratios. You deal is well under 1%.
@Ken Vogel - The Boise market like a lot of markets is extremely hot right now. People are still investing because, like you, they see a hot market that's still affordable and they are betting on appreciation and rent increases. Like any market, there are areas/neighborhoods that are very expensive, so if this property was in one of those areas, it's a fantastic deal and is under-valued. Mostly though, if it's on the MLS, investors are either getting in a bidding war or overpaying.
If you ever have questions about the Boise market, don't be afraid to reach out!
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