East end vs west end SFR

[Allen Jones]

Hello, 

I'm looking for some advice before I pull the trigger on my second rental home. My current rental is in the east end and rents for $1100/month. Comparable homes in the area would be around $120K.

I'm seeing quite a few west end/Portland homes on the market for $30k or less, that appear to be mechanically sound. Some of these are currently rented for $600-$700/month. 

I've heard I can expect a higher level of vacancy/late rent, greater chance of damage.  I also realize there will be no appreciation on the homes value.

Despite all that, it seems a $60k investment in two west end homes would outperform another $120k east end home.

Is there something I'm missing in this equation? Why are other investors selling currently rented units?

Thanks,

Allen