Rental property question

[Devin Cook]

hey BP, I wanted to get your take on a property I'm looking at tomorrow. It's a duplex in a not so good part of town but from my understanding of the owner it's been fully occupied for the last 3 years and each side is bringing in $190 a week. When asking why she's was selling it she said that some personal things came up (so I take it she's hurting for money) the property was listed at $60,000 then has been reduced to $48,000. When talking with her agent, she mentioned it has failed 2 previous inspections from other buyers and they didn't pass on the information of why, she's even tried to buy a copy of them. It's under contract and I'm going to walk with the owner and an inspector tomorrow. Is there anything else I should be concerned about? 

[Nathan Grabau]

Your inspector is going to find similar things to what the first 2 people found. Low dollar properties like this are really hard. It is kind of like buying a $1,500 car, if the transmition goes you might as well sell it for parts. If you have a roof that needs to be replaced or a hot water heater/ a/c/ furnace that all goes out at the same time, you might as well just dump the property. The owner likely does not have the cash to handle upcoming or already necessary mainantence.