Rentals In Rural Areas

[Matthew Rinaldo]

I bought a rental property 3 bed 1 bath in a rural area.  The town population is only about 1200 people.  However it is the main/biggest town in a county of 26,000 people.  The town economy is based on tourism, mountain activities.  I bought this as a LTR.  According to rent-o-meter, BP rent estimator, and what I have seen on Zillow for rent it will gross 500 - 600 hundred a month, once I find another house as I am currently living in it.  Also I have looked into section 8 and I would gross about 350 a month with that option.  One of the main draws to this town for me was a State University about 35minutes away in a much more expensive town.  A lot of people here commute to this town for work.  I am debating on if it is a good idea to buy another rental in this market?  Has anyone has success with LTR's in rural area?  If so is your entire portfolio in rural area?  Any thoughts would be awesome!