My wife and I are looking at a potential rental property located on a major highway. By major I mean there is a lot of traffic, but it's still only two lanes. For our area, the home seams to be priced right. It's 3 bedrooms and 1 bath on two levels. Comes with 1.25 acres. The property is listed for $65K and the previous tax assessments were $83K according to zillow. They have been dropping the list price every so often. This property is attractive to us because the mortgage would be less than our car payment and we could make money each month of the rent.
My concern is that it is right beside a gas station, Dollar General, and they are putting in a Mcdonalds. I predict that one day they are either going to widen the road or a business is going to come through and try to buy me out. That's not a bad thing, I would assume I stand to make some money if they do. It's unzoned and can be used as residential or commercial. Any advice?
