Investment in a Quad in Rural Iowa?

[Sara Reeder]

I am in the process of analyzing a fully occupied quadplex in a rural community in Iowa. The numbers look good, but I'm concerned about vacancy time and service providers for such a small town...Anyone here investing in rural areas?  We are fairly familiar with the area since my husband grew up in the next town over and we both grew up in rural areas of Iowa, but I'm trying to set some expectations since I've been a Property Manager in Denver for 7+ years (so a sliiiightly different market). Ag is the main industry. Tiny town (300+ pop). It's about 20-25 minutes to 3 larger (still smallish) towns and about an hour to Des Moines. This would primarily be a Cash Flow play as I wouldn't expect a lot of appreciation there.  From the listing, it's fully occupied, but 3/4 are on month to month leases. Could that cause issues with financing? 

What am I not thinking of?

Thanks in advance for your input!

Sara