Dumb Question, Sorry Im New to Rehabbing

[Ray Jimenez]

Ok so I recently received some expired listing from the MLS today. And I realize that there were some properties being listed as low as 10k and looking at some recent comps in the area, I realize that the ARV is around 120k-130k. Also looking at pictures from the interior and exterior of the property is doesn't looks so bad. The area is actually a good market for investor right now, so my question is how are properties like this not being sold when being listed on the MLS? And why haven't any other investor picked up on it yet?