The location was outstanding and the listing agent listed the property very low so it went to an multiple offer situation.

Single-family starts were down 8.5% nationwide, while multifamily starts fell 14.5%.

@Donta Williams there are also nationwide lenders who can lend in Charlotte who typically have lower rates.

This is due in large part to major corporations like Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center investing heavily in the region and creating numerous job opportunities.

THAT COULD SPELL BAD NEWS FOR THE PEOPLE RENTING THEMA February report by real estate brokerage Redfin found that the Tampa Bay area had a net inflow of 47,000 people last year, the fourth-highest nationwide, just behind Phoenix, Dallas and Orlando.

Not really nationwide, but market by market yes. 

I told him I could only finance $20000.00 of it (at 5% interest over a 5 year period) because I have an outstanding balance on the loan of $35000.00  if he could obtain a loan for the other 35000.00 I would be willing to consider it.

From purely a cash flow prospective, this does not look like an outstanding deal.

So while there can be illusive looking returns in some dying cities...real estate is a long game.....look where the growth is.They look at rent vs purchase prices.....and look at appreciation.I would also look for some list of landlord friendly states.Lots of people nationwide seem to like Nevada, Arizona, Florida, Texas

The tenants either 1. have outstanding balances with MLGW (Memphis Light Gas and Water)and can't get their services activates or 2. can't pay the monthly bill due to fixed income.