Newbie looking at multi-units in various cities

[Nick Johnson]

I am a total newbie. Only 25 and looking to get started. I have grown up watching my parents (own 6 properties) and want to get started myself.

I was browsing around and notice there are many many multiunits in Buffalo NY in the range of $9000-Anything. Mainly speaking on the lower end offers from $9000-$35000 each. It seems like the rents per side range between $250 and $475 consistently. If the mortgage is only $400 and the rents bring in $500-950 why are these still available on the market? Am I totally missing something BIG that I just can't see??

Please, advice/thoughts/ideas would be GREATLY helpful and appreciated!

Thanks in advance!