Temple University PA investment properties

[Amy Mills]

Hi everyone, I'm looking into buying my first investment property. I own my primary home in Brooklyn, but nothing cash flows here, so as I was looking outside of NYC I stumbled upon Philly. 

I found a student rental a few blocks west of Temple U in the Cecil B Moore area. After running numbers it looks great, cash flows positive and already rented till July 2024. Some questions:

-I see a lot of rental vacancies on Zillow. Is vacancy a problem? is there too much supply?

-If I can't find a new tenant for the next school year, am I screwed? It's my understanding that in this area, there are only students and no other type of renters.

-Anything else I should keep in mind?