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Updated about 8 years ago,
4plex in Tennessee for my retired parents
Ok so my parents are both retired and have recently bought a vacation home in Tennessee. They spend a couple weeks every other month at their vacation home and commute back to their primary home in Las Vegas. Enough back story: They aren't excessively wealth but have money to invest.. I came across a 4 plex a couple miles from their vacation home.. Here's the numbers-
Purchase: 80k after 20% down
4-1 bedroom units renting for $425 mo ea
All units are rented and property is in good condition- also comes on 4.3 acres..
Looking for a down side here.. They would be putting it with a property manager.
Thoughts?