BRRRR in Small Town USA

[Veronica Ivy]

I'm still looking for my first deal. I live in a relatively expensive city, so I'm looking at places 1-3hrs away. I'm currently looking at a few properties in Fairmont, NC.

I'd seriously appreciate help on whether this is a good idea. 

I don't have a problem finding 1.5-2% properties. My issue is: will they rent, period? And what vacancy can I expect? 

Finding properties that should cashflow *if* rented doesn't seem to be the issue. I'm just wondering if renting out a 4br/2.5ba for $1000 is realistic in a small town of 2500 people (but who are 15min from Lumberton, NC w/ 20k pop, and an hour from Florence SC and Fayetteville NC).

Fairmont data seems 16% vacancy rate *overall* (which includes unsold properties on the market).

There's no Rentometer data, it seems. Craigslist has a few for rent in the 1-1.5% range. 

Thanks, y'all!

[Alexander Felice]

who is going to manage the property? That's who I would ask for what it will rent for and what vacancy to expect. They are the ones who will be tasked with the job. 

and yeah it's a very small town, lumberton is nearby but it's a very poor are and $1000 rent there is on the high side, so be careful. 

Also remember that real estate on paper is easy, real life is less forgiving.