First deal - am I missing something

[Ariella Cohen]

I'm looking at a duplex listed for $60K in columbia, sc. 1 unit is occupied, the other vacant. Monthly rent $495 per unit. Management $1100, Taxes $1245 and Insurance $1000. This is a cash deal, so there's no debt service. All of the income is going straight to an account that won't be touched, and will basically serve as a reserve fund. I haven't yet seen the property - still trying to figure out the numbers and how to make it work, but I am planning on viewing some properties soon.
I know about the 50% rule, and even so, the numbers still make sense for our goals.
Have I left anything out?

[Rich Weese]

Hello,
There are so many reasons I don't like this deal.
1. Long distance mgmt is tough.
2. 1 brs here in U.S. are like a dinosaur and VERY high turnover
3. Rentals are very in demand in U.S. Why is 1 vacant?
4. My guess -this is older duplex- higher maintenance.
5. Many states have both good and bad cities and those cities have good and bad areas.There are some cities where I've actually seen homes advertised for TEN DOLLARS!! Great deal? Not if the city has lost 30% of population and has no interested renters. Be careful you get the correct info.