A deal in Memphis? $30k for $600/mo

[Ben Roberts]

I'm considering a property in Memphis that was recently renovated, inside and out.  It's a 2/1, about 900 sqft, and $600 would be market rent, maybe a bit more given the condition of the property. With a sale price of $30k, it hits the 2% rule and should cash flow just over $150/mo.  Even thought the numbers work, it feels a little thin.  Maybe this makes more sense for a cash investor?  Any thoughts?