High cap but low price to buy.. catch?

[David Smith]

I see some areas has super high cap rate ( around 15% ) and per unit price is very LOW. 

Not much crimes.      And, there are lots of inventory to buy. 

WHY?

[Charley C.]

look at the leases and the deposits, look at the payment histories, and high cap rate also usually is because its not historic, its "projected"  

also get your hands on the bank statements and track the deposits and see if they were weeks after the due date.. look at the accounting software too.. also see if they rents are not collected in one solid payment, see if tenants are paying half, then a little more a week after it was due., Always a reason.