Immediate returns with small cash buys of tenant occupied homes?

[Colin Easterbrook]

I am looking into some small 2/1, 2/2 rental homes that currently have tenants in SW, West Atlanta etc in order to see if I could walk into some immediate returns and cash flow. The homes I am looking into are going for 50-70k cash deals. My idea is to use these, with current tenants to generate immediate returns so I can apply the returns to hotter markets that are up and coming that I would like to buy and hold or rent.

Does anybody recommend this approach with small cash deals and existing tenants? Does anybody have any pros/cons or feedback on this topic? Thanks for your help!