Possible rental purchase sounds too good

[John Heck]

I found a posting on CL listed for a month so far for a sale price of $12000 for the following:

Investors property
3 bdrm 1.5 bath city home with yard
Basement and attic can be finished off
Tenants currently in.
750$ + utilities has been going rate.

What questions would you ask the seller if you were meeting with them?  The pics look pretty decent.  It is a inner city row home.  Wouldn't the seller just sell it to the tenants?  I am eager to get started in a real estate venture so this sounds ideal to me...wondering that some experienced investors think.  Thank you! -John 

[Matt R.]

It is definitely possible to find one in Reading for 12k. I would run a craigs tester rental ad if that was your intention. See if you can get $750 or see what some others are going for. If that pans out check the property out for all the maintenance issues..roof, furnace etc...if it needs everything... might be overpriced. Go State!

thanks,

Matt