A deal in Memphis? $30k for $600/mo
I'm considering a property in Memphis that was recently renovated, inside and out. It's a 2/1, about 900 sqft, and $600 would be market rent, maybe a bit more given the condition of the property. With a sale price of $30k, it hits the 2% rule and should cash flow just over $150/mo. Even thought the numbers work, it feels a little thin. Maybe this makes more sense for a cash investor? Any thoughts?
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@Ben Roberts I was about to tell you to call me so I could get some details about it until I looked up the cross streets. This is right by Orange Mound. I stay away from that area.