Dirt cheap apartments in Michigan

[Ken Singh]

Hi,

I am in CA and I see many cheap 2BR/1BA - (good looking in photos) apartments in MI for about $25,000 each in a large apartment complex. What is the catch here? If there is no catch then why are they selling it? I can buy 2/3 (say $20,000 each) of those and rent those through apartment mamangement companyfor say $750 per month. What are the chances of losing money in this deal assuming roof is fine, ROI seems fine, and it is in an area where we can get tenants.

Thanks!