Newbie here, hoping to buy something later this year or maybe next year. Not quite ready to spend the money yet. For now I'm perusing the market as a kind of hobby to see what's out there.
Cash flow options seem pretty slim in my area, south of Seattle.
However, when I look around the country, there are comparatively ridiculous-seeming options. For example this place claims to be able to rent for $6,000, and with 25% down that would be a $4200 payment, so $1800 cash flow (not yet factoring any sort of maintenance and whatnot of course, so just the mortgage/rent diff):
https://www.redfin.com/SC/Columbia/1921-Pickens-St-29201/hom...
Or to a lesser extent this place at $400 cash flow:
https://www.redfin.com/SC/Columbia/1035-Kinard-Ct-29201/home...
Not asking for free research here, but why in general terms would a place like this just sit on the market? It seems so much better cash flow than properties listed in my area, where you're lucky to get a couple hundred bucks.
Example of break-even in Tacoma, WA:
https://www.redfin.com/WA/Tacoma/3734-S-M-St-98418/home/2978...
What am I missing that these seemingly ridiculous cash flow properties are available in other areas in the country? Shouldn't investors be snapping these up?
Thanks in advance for any tips!
