Anyone actually buying rental properties in Utah and cash flowing

[Daniel Pearson]

My wife and I have flipped homes in Utah along the Wasatch Front for a few years. We were never able to find a home that we could just BRRRR, due to lending requirements vs income, or lack of ingenuity / knowledge. Since then we've bought a home and are hacking it. Basement ADU covers our mortgage in our 2019 build. We now are in a position that we could possibly buy, but I'm looking all over Idaho (because we have family there and are familiar with it) and not finding but analyzing lots of on-market properties.

My question is, how on earth are people buying in Utah and getting any decent cash flow? My dream for years has been a 4plex I could drive by and check on without necessarily managing it, but I'm not seeing how people can rent for $1200-1500/unit and pay $850-950k for a 4plex and still manage to cashflow in any decent kind of way? Like there's a 4plex my wife and I used to live in in Pleasant Grove. It's not for sale. But the zestimate on it is 875k, the rent income estimate on BP is 1375/mo per unit. 2br 1ba 1100sq ft units. With 5558 % repair/capex/vacancy/pm it's only cashflowing $300/month ($299). https://www.biggerpockets.com/...

Are people okay with these numbers? I'm really curious. Is it just me that this is too risky? How could someone like me with gross income of roughly 6500/month possibly get a deal in an area like this?