Does a high foreclosure rate equal great rental market??

[Alex K.]

Just wondering what the thoughts are on this? If areas have a high foreclosure rate, is there a high demand for rental properties as people still need a place to live?

A friend of mine was telling me he knows someone who just bought a property is Las Vegas, and the agent had 3-4 renters lined up for him. After 80% down, he will be 100-200$ cash flow positive.