1bed/ 1 bath-12k-would u buy it?

[Chris Wood]

I recently was given an opportunity to buy a 1 bed/1 bath house from a friend. He has had a lot of success with these and prefers them.  Which is different than the other 95% of investors I have talked to. I have also heard that having several different types of real estate is a good idea. So I am curious why or why not would you buy this deal.

It is a 1 bed room house with bath. Totally rentable and should have a tenant shortly. Who would be locked in to a lease for 12 mos. It might be a c neighborhood. It does have a 1 car detached garage. House is about 600 sq ft.

Numbers:

Buy at 12k

Rent is 465/mo  (about 2 yrs to be paid off)

Ins about 300ish

taxes are 686/yr