Look at population growth, job opportunities, and other economic factors that will drive rental demand.

It sounds as though your REALTOR didn't do their job to protect you and the Seller is trying to scam you.The first thing I would do is talk to your REALTOR.

We are excited to be in the Lowcountry and can't wait to experience nice weather year around.I have recently retired from my previous job and am thinking about getting into Real Estate full time.

The long term trends with jobs and population growth are still very strong.

I am only working part time now with my w2 job so I do have some extra time on my hands.

But it will be a complete gut job, and in the end, based on the neighborhood it is in, would only sell for about $40-50k max.

That being said I have seen a large number of "professional" property managers that dont do their jobs well resulting in... below-market rents, bad renters, and bad leases that aren't enforced well.

I don't want to quit my W2 job.

Look at factors like job growth, population trends, and rental demand.

I have downloaded the podcasts and look forward to listening -- this week's podcast about REI while holding a full time job is VERY relevant!