Depressed Area

[Joseph Walker]

Greetings;

My wife and I relocated to a small Maine town. There are about 3000 people in town. We are new to REI but can buy a 3 unit rental for less than 60k that immediately provides cash flow of about 600/mth. Maybe more.

The issue we are concerned with is likely limited appreciation potential, lack of a property manager here in town, and a motivated seller. If the property is fully rented (and it is fully occupied) why are they selling?

Any input is appreciated.

Joe and Vimi