The reason you are seeing such a good "deal" on it is that they are undesirable and have smaller pool of buyers.  

However, if these numbers happen to be accurate, it equates to a 16% cap rate which suggests it's located in an undesirable, crime riddled area. 

There are so many people involved in this business, even if only peripherally. 

The key here is tenant screening and proactive cost management.Class C - Properties in undesirable areas with cash based tenants.

The official tally is 174,366 users who have joined BiggerPockets, but we've DELETED almost 25,000 of them -- these include the spammers, scumbags, and other undesirables that we get rid of every day.

Most people want a new house and older homes are undesirable.

I was really hoping to try mobile home investing this summer but now I don't know what to do :cry: While I have been in the real estte business both as an attorney and a principal for 40 years, and have been peripherally involved in a couple of gated communities, I have never executed on "making a market" in these.The opportunity to buy very low and sell veryn high 100% financed seems obvious, but "feet on the ground" would be needed.

This would put personal belongings at risk as well as turning my own living quarters into an undesirable place to be.

If you purchase a property for only $30K in any Chicago south suburb, it will be a property that will either require a ton of work, which means that $30K isn't enough; or a property that is located in an undesirable location which means it will be more difficult to attract tenants.

You'll definitelty be on the watchlist of undesirables who know where you live and want what you got....Atleast for a ride.