Questions About Investing In Multi-Family In Rural Town

[Gil Happy]

Hello,

I have come across an interesting real estate investment opportunity that I'm thinking about entertaining - it is a number of duplexes (less than 15) all on the same street in a small town in Georgia. Currently each of the units are renting at $350 / month, but with a full renovation (a couple of the units have already been renovated), they generate $550 / month. After calculating the NPV with, or without the updates, the return is excellent.

Here are some details about the town:

- median household income = 27k / year

- median property value = 85k

- population around 9000

- approximately 1.5 hours away from Atlanta

I currently have a couple of rentals generating between the $2000 - $3000 / month and I have had excellent luck finding quality tenants (by performing credit & background checks along with salary verification), great contractors, and self-managing each of my properties (and one is half way across the country).

Does anyone have any thoughts or comments on what it would like to own and manage a block of duplexes on a street in a lower income town? What type of tenants do these types of properties attract in terms of credit / background checks? Do they generally keep things in good shape, or are there maintenance requests at all hours of the night?

Thanks in advance!