Too good to be true?

[Jordan Sweet]

Sorry if this belongs in starting out or another forum.

I live in Svannah but am planning on moving to Seattle.  I plan on staying in the city, at least for the first few months that I am there.  I am looking for real estate outside of the city though because if I find a good deal I would like to own a home there.  As far as my plan goes, I would like to enter into real estate buy owning rentals.  That brings me to opportunities like this:

http://www.zillow.com/homedetails/1402-22nd-St-NE-...

Edit for description if you dont want to click link: 3bed/2bath house in developed area outside of seattle nearby many schools. 88k asking.  valued at 200k homes in area sold for 200k.

It is located in Auburn and it doesnt seem to have too many problems.  It looks okay.  I know I havent actually been there to see it. I see deals like this every now and then that seem too good to be true.  I understand there are many factors to determine ability to rent out and value.  But this seems like immediate value with such a low price by comparison.

 This is my question though:  Given that it seems to be such a good deal (88k for property zillow values at 200+k)  and it is not in the middle of nowhere (probably able to be rented out to students or a young family) is there something I am not considering when I find deals like this? Should i be concerned that there are sharks out there or should i be jumping at these?